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IFC Commits €10 Million in Financing for Healthcare Project in Southern, Central and Eastern Europe


In Washington:
Irina Likhachova

Phone: (202) 473-1813

Email:
ilikhachova@ifc.org


Washington, DC, March 15, 2004—The International Finance Corporation, the private sector arm of the World Bank, committed €10 million in funding for the Euromedic group of companies (“Euromedic” or the “Group”), a leading healthcare provider throughout Southern, Central and Eastern Europe. This is IFC’s second loan to Euromedic and it will help the Group expand its existing network of diagnostic imaging and hemodialysis centers in the region. Budapest-based Euromedic currently has eight diagnostic imaging centers in Hungary, seven diagnostic and eleven hemodialysis centers in Poland, two diagnostic centers in Romania, and two hemodialysis centers in Bosnia and Herzegovina.

Euromedic diagnostic and dialysis centers are extending high quality services to large and diverse portions of the local population, thus improving both access to and equity of healthcare. Euromedic is an excellent example of a public-private partnership. A private healthcare provider, it is fully integrated into the public health systems in the region. Nearly all of Euromedic’s patients are covered by the national health funds of Bosnia and Herzegovina, Hungary, Poland, and Romania, which pay for diagnostic and dialysis procedures. Euromedic serves patients from all income levels and provides access to state-of-the-art equipment and best standards of care in many remote and underserved parts of the region.


Euromedic is owned by: Dresdner Kleinwort Capital, the investment banking division of the Dresdner Bank Group; GE Healthcare Financial Services, a wholly owned subsidiary of the General Electric Company; the Global Environment Fund, an international investment firm; and the company’s founders


This project is part of IFC’s global efforts to strengthen healthcare services in emerging markets through strategic private sector investments. IFC investments in healthcare are an important component of the Corporation’s overall strategy.


IFC's mission (
www.ifc.org) is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives.  IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability and provides technical assistance and advice to governments and businesses.  From its founding in 1956 through FY03, IFC has committed more than $37 billion of its own funds and arranged $22 billion in syndications for 2,990 companies in 140 developing countries.