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Rio de Janeiro, Brazil / Washington, D.C., July 7, 2010—
IFC, a member of the World Bank Group, and Rede D’Or, one of Brazil’s largest independent private hospital networks, have signed agreements to finance the company’s expansion plans and bring affordable health care to underserved areas of the country.
The project will increase access to quality medical care and introduce high clinical and managerial standards in Brazil’s health care sector.
“We are very pleased to partner with IFC, whose global experience and local knowledge of private health care in emerging and developing markets will facilitate our expansion,” said Dr. Jose Roberto Guersola, Executive Director of Rede D’Or. “We are also looking to IFC for guidance in strengthening corporate governance and sharing international best practice.”
Rede D’Or is proposing to use IFC’s 55 million Brazilian reais financing to expand its existing facilities and build new hospitals. The group, which is active in the states of Pernambuco, Rio de Janeiro, and Sao Paulo, also plans to acquire new hospitals.
“This investment reflects a strategic IFC priority to support health care networks and providers that increase affordable health services in underserved areas,” said Guy Ellena, IFC Director for Health and Education.
Andrew Gunther, IFC Country Manager for Brazil, said, “IFC’s financing will help Rede D’Or raise medical standards and operational efficiency, which will have a strong demonstration effect across the industry.”
IFC’s strategy in Brazil focuses on promoting access to finance and developing capital markets to reach low-income individuals, microenterprises, and small businesses. IFC seeks to strengthen infrastructure and public services, including health and education, by increasing private sector participation. Other key areas include improving the investment climate and helping small businesses join the formal economy. IFC also promotes socially and environmentally sustainable practices, specifically in the Amazon region. As of March 2010, IFC’s committed portfolio in Brazil was $2.4 billion.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit
www.ifc.org
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About Rede D’Or
Rede D’Or, which is currently focused on providing tertiary health care to middle-income groups, is expanding its footprint to cover lower-income populations. The group, which opened its first hospital in Rio de Janeiro in 1998, now has a network of 16 hospitals and 46 diagnostic centers in three states. In 2007, Rede D’Or received Joint Commission International accreditation for Copa D’Or, its flagship hospital in Rio de Janeiro. The group conducts regular community engagement activities on a wide range of health topics. For more information, visit
www.redelabsdor.com.br/
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