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IFC Commits US$20 Million In Additional Financing For Fleury, a Leading Clinical Diagnostic Company In Brazil


In Washington, D.C.:
Adriana Gomez

Phone: (202) 458 5204

E-mail:
agomez@ifc.org


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, and others.  


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.