México City, November 14th, 2018.
The International Finance Corporation (IFC), member of the World Bank Group, announced it has made an equity investment in Clínicas del Azúcar, the largest chain of specialized diabetes clinics in Mexico, with the objective to support the launch of new clinics and the development of its digital strategy. The round also includes the participation of Promotora Social Mexico and The Social Entrepreneurs fund.
Clínicas del Azúcar provides a comprehensive approach for the management of diabetes at price points affordable to middle and lower income patients. The company has 13 clinics across the northeast of Mexico, where it has treated more than 30,000 patients and prevented more than 15,000 complications since inception. The clinics offer their services through a subscription model, where patients receive an annual membership to access an integrated set of services including medical consultations, diagnostics, and both nutritional and psychological services.
“We are very excited to partner with IFC” said Javier Lozano, CEO of Clínicas del Azucar. “Right now, we have a unique opportunity to work together with the sector and transform Mexico in one of the leaders in the development of technology and innovation in diabetes care. This investment will help us not only to continue expanding our social mission to many more patients, but will also have an incredible impact creating more than 300 new jobs and preventing more than 20,000 diabetes-related complications”
Since launching its first clinic in 2011 in Monterrey, Nuevo León, Clínicas del Azúcar integrates information technology and data analytics to monitor patients more effectively. The digital strategy includes to continue to implement artificial intelligence into its daily operations and to help personalize patient care and improve quality and treatment outcomes.
“IFC is pleased to support Clínicas del Azúcar´s mission to reduce the harmful impact that diabetes has on lower-income groups across Mexico,” said Gabriel Goldschmidt, IFC’s Regional Director for Latin America and the Caribbean. “Supporting innovative, data-driven healthcare models to combat non-communicable diseases is part of IFC’s inclusive strategy of providing individuals with access to better services and solutions, ranging from healthcare to financial services, education, and employment,” he added.
Mexico has one of the highest burdens of disease from diabetes in the world and the epidemic was declared a national emergency by the Government of Mexico. Diabetes is now estimated to cause more than 80,000 deaths per year in the country. The lack of effective disease management contributes to the rising burden of disease from diabetes. Clínicas del Azúcar contributes to fighting this problem in a significant and effective manner.
“IFC’s investment in Clínicas del Azúcar further augments our health technology portfolio, where we have invested more than US$50 million globally in recent years to support innovative companies using technology to improve access to health and lower costs globally,” said Nikunj Jinsi, Global Head of IFC’s Venture Capital Group. “The Company is on an exciting growth path and we look forward to working alongside our partners to the journey ahead” he added.
Diabetes is one of four priority non-communicable diseases targeted for action by world leaders. Having diabetes triples the risk of a heart attack and increases the risk of stroke, kidney failure, blindness and complications in pregnancy. Globally, the private sector is increasingly being asked to play a role as healthcare provider in such programs. Supporting companies tackling chronic diseases like diabetes, as Clínicas del Azúcar is doing, is a core part of IFC’s strategy in health care.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit
www.ifc.org
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About Clínicas del Azucar
Clínicas del Azúcar is the largest private provider of diabetes care in the country. Through a one-stop shop model Clínicas del Azúcar provides all the needs a patient with diabetes needs and create access to the majority of the population. Currently, they operate clinics in the northeast of Mexico and have plans to continue growing and expanding throughout the country to combat the health issues in the country and reduce diabetes-related complications.
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