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
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.
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/.