Tunis, Tunisia, June 16, 2011
—IFC, a member of the World Bank Group, is investing the local currency equivalent of up to $8.2 million in Tunisia’s Amen Santé health care company to support the company’s expansion plans and increase access to health services in the country.
IFC’s first-ever equity investment in Tunisia’s health care sector will support the private provision of services to publicly-funded patients in Amen Santé’s facilities, and broaden access to affordable private health care for lower-income groups and those in remote and underserved regions of the country.
“We are very pleased with IFC’s investment in Amen Santé as we believe it demonstrates confidence in our business model and a shared belief in the benefits that private health care can bring, particularly for those not reached by the current system,” said Mohamed Ben Hmida, General Manager of Amen Santé .
IFC’s investment will support Amen Santé’s plans to build a large-scale private general hospital and expand a clinic in Tunis, expand a clinic in Gafsa in southwestern Tunisia, and build a new secondary-level clinic in Beja, in Tunisia’s northwest. Amen Santé also plans to expand its presence into neighboring markets in Northern and Sub-Saharan Africa over the next few years through various arrangements, including pre-hospitalization clinical services, and public-private partnerships.
"This partnership with IFC, whose international experience and expertise will contribute to the development of health services in Tunisia, will also benefit Group Amen's international outreach on both a regional and continental scale," said Rachid Ben Jemia, Chairman and CEO of Assurances COMAR, Amen Santé’s largest shareholder.
IFC believes that Amen Santé’s successful expansion will show other potential investors in the sector the social and economic rewards that a more robust private health care system can bring.
“IFC is committed to working in Tunisia to ensure the country has the infrastructure in place, including health and education services, to support the kind of progress and job growth its people are demanding,” said Guy Ellena, IFC Director, Manufacturing, Agribusiness and Services Department in Europe, Middle East, and North Africa. “This project also sends a strong signal of investor confidence in Tunisia.”
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
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