Sao Paulo, May 12, 2004.— Today, the
International Finance Corporation, the private sector arm of the World
Bank, committed US$20 million to Fleury S/A, a leading clinical diagnostic
company in Brazil. This is IFC’s second loan to Fleury, and it will help
the company to implement a five-year, US$60 million investment program
to strengthen its leadership position in the healthcare market and diversify
its business model.
The investment program will enable Fleury to broaden its market reach,
build a state-of-the-art imaging diagnostic center and enter the curative
segment of healthcare services. By expanding the volume and scope of its
operations, Fleury will improve access to high-quality services for diverse
groups of the population across a larger geographic area. By promoting
best clinical and business practices, the company will help to raise the
level of care in Brazil’s health sector overall.
Fleury is a world-class provider of a wide range of clinical diagnostic
services. It currently operates a central laboratory, which performs more
than 2000 types of routine and specialized tests, as well as 17 free-standing
collection and diagnostic centers in São Paulo, Campinas, Rio de Janeiro
and Brasília. Fleury performs close to 5 million laboratory tests and imaging
diagnostic procedures for over 900,000 patients per year and serves as
a national reference center for more than 550 laboratories. Its medical
team comprises more than 200 highly qualified physicians. The company is
known for technical excellence, extensive research and training activities,
and outstanding customer service. Through Instituto Fleury, the
company’s training and research arm, it also actively sponsors
community outreach and charity programs, such as providing free pre-natal
care and testing for low-income women, as well as free health education.
Fleury was founded in 1926 by Dr. Gastao Fleury and Dr. Walter Leser in
Sao Paulo. It remains a physician-controlled company and is currently owned
by a partnership of its most senior physicians.
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 as well as part of IFC's strategy in Brazil to broaden
access to health services. IFC’s current health sector portfolio in the
Latin American and Caribbean region is US$113 million for its own account,
including investments in hospitals, diagnostic services, information technology,
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. Brazil is IFC's largest
partner, not only in the region but worldwide. In fiscal year 2003, Brazil
was the largest recipient of IFC funds for a second consecutive year, with
funding amounting to $888.4 million.