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Washington, DC, December 11, 2015
—IFC, a member of the World Bank Group, Falck Danmark A/S, Scandinavia’s largest private provider of health services, and the Danish Investment Fund for Developing Countries (Investeringsfonden for Udviklingslande, IFU), are partnering to form a new company, Falck Medical Services Africa A/S, that will invest in health clinics and expand access to high quality basic health services across sub-Saharan Africa.
IFC and IFU will each invest up to $20 million, while Falck will invest up to $60 million for a total of up to $100 million of equity in the new entity. The primary focus of the funds are to invest in a network of primary care clinics aimed at delivering essential care at typically lower costs than hospital visits. Falck will be responsible for managing the operations of the new company.
“We have a strong record of delivering health services in 33 countries in on five continents. We are excited to partner with IFC to expand our presence to sub-Saharan Africa where too many people lack access to affordable, good-quality care,” said Executive Vice President Hans Jensen, Falck.
Mary-Jean Moyo, IFC Regional Head of Manufacturing, Agribusiness and Services in sub-Saharan Africa said, “The private sector can play an important role in achieving universal health coverage in developing countries. This investment reflects IFC’s health strategy of partnering with global health care providers with the technical expertise needed to scale up and build networks for delivering affordable, quality health care for all.”
IFC Corporate Finance Advisory Services helped pave the way for this investment by helping identify key countries and potential partners.
IFC is the world’s largest multilateral investor in private healthcare, managing an active portfolio of about $1.3 billion worth of health investments. IFC investments in service providers, pharmaceuticals and medical technology are aimed at promoting greater access to affordable, high-quality healthcare.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
About Falck
Falck is a Scandinavian-based organisation with more than 100 years of experience in handling critical and vital tasks in close collaboration with local and national authorities. Having enjoyed rapid international growth in recent years, Falck currently has operations in 45 countries on six continents and more than 34,000 employees. Falck's mission is to prevent accidents, illness and emergency situations, to rescue and assist people in emergencies quickly and competently and to rehabilitate people after illness and injury. Based on this mission, it is Falck's vision to develop a major international business working broadly within emergency, assistance, healthcare, and safety training services. Falck's principal shareholder is the Lundbeck Foundation, a foundation whose objective is to make a significant difference to people's health and lives. Last year, the Lundbeck Foundation donated 63 million euro - corresponding to the salaries of 643 scientists and technical staff - to medical and life science research.
About IFU
IFU - Investment Fund for Developing Countries - was established by the Danish State in 1967. IFU offers risk capital and advice to Danish companies wanting to set up business in developing countries and emerging markets. Investments are made on commercial terms in the form of share capital, loans and guarantees for the purpose of promoting economic and social development in the investment countries and assist Danish companies in entering new markets. Over time, IFU and IFU managed funds have invested in close to 1,200 projects covering more than 100 countries in Africa, Asia, Latin America and Europe. The total expected investment in these projects is USD 22bn, with IFU and IFU managed funds expected to contribute close to USD 2.5bn. For more information, please visit
www.ifu.dk
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