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| CentroMedico II |
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| Summary of Proposed Investment |
| This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. |
| Project number | 26323 |
| Company name | Controladora de Servicios Medicos S.A. de C.V |
| Country | Mexico |
| Sector | Health Care |
| Environmental category | B |
| Department | Health and Education |
| Status | Active |
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| Date SPI disclosed | November 2, 2007 |
| Projected board date | December 3, 2007 |
| Previous Events | Invested: April 10, 2008
Signed: January 4, 2008
Approved: December 26, 2007 |
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| View Environmental & Social Review Summary (ESRS), click here |
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| Overview |
Sponsor/Cost/Location |
Development Impact |
Contacts |
Attachments |
| Project description |
| The proposed project involves the construction of a new 57-bed hospital in the Tlajomulco District, located in southern Guadalajara, Mexico. The new hospital will focus on trauma and oncology services, and will complement the existing ambulatory surgical center and 86-bed hospital, that Controladora de Servicios Medicos AG S.A. de C.V. (CMPDH, Centro Medico, or the company) has in northern Guadalajara. In addition to the new hospital and in line with the existing facilities, the project also includes the construction of medical offices to be sold to third party doctors. |
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| Project sponsor and major shareholders of project company |
| The sponsors are the second generation of the Acosta family, a well-known family in Guadalajara with business interests mainly in bus transportation, gas station services and real estate. CMPDH’s key management team is comprised of members of the Acosta family, as well as externally hired professionals. Dr. Ricardo Acosta Gonzalez, an ophthalmologist with many years of experience and well known in the medical sector in Guadalajara, is the Medical Director. Mr. Rodolfo Acosta Gonzalez, previously General Director of the Acosta family’s transportation businesses, is CMPDH’s General Director. |
| Total project cost and amount and nature of IFC's investment |
| The total project cost is estimated at $36 million. The proposed IFC investment will be up to $18 million, or its equivalent in Mexican Pesos, in the form of a senior secured A Loan. In addition, the sponsors have requested that IFC provide a USD-MXN currency swap for IFC’s first loan of $14.5 million. |
| Location of project and description of site |
| The new hospital will be constructed on a plot of land in the Tlajomulco District of southern Guadalajara, Mexico. The hospital will be located on main highway that is the principal southern entry point into Guadalajara. |
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| Anticipated development impact of the project |
The project will:
- increase access to healthcare for underserved populations,
- act as a “center of excellence” not only for Guadalajara, but for Mexico as a whole,
- deepen reach to lower income market segments,
- provide opportunities for increased efficiency, allowing for the provision of more cost-effective health services, and
- increase the availability of high-skilled employment in the Guadalajara metropolitan area. |
| IFC's expected development contribution |
| Participation in this project would allow IFC to support the expansion of high quality affordable health services in Mexico. In addition to long term financing, which is not easy to obtain for private hospitals in Mexico, IFC would be providing its global health care experience and its focus on financial discipline, an increasingly important aspect for Centro Medico given its longer term growth plans. |
| Environmental and social issues - Category B |
This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key environmental, health and safety, human resources and social issues in a project in this industry sector include the following:
- Management capacity to manage environmental, health and safety, human resources and social risks and issues;
- Assessment and integrated management systems to ensure environmental, health and safety, human resources and social performance;
- Site selection, acquisition, development and permitting;
- Terms of employment and working conditions;
- Occupational health and safety and implementation of good hospital management practices and employee training programs to prevent nosocomial diseases;
- Quality and sustainability of potable water supply;
- Adequacy of disinfection and sterilization programs;
- Effluent management;
- Monitoring and control of air emissions;
- Solid and hazardous waste management and disposal;
- Hazardous materials management; and
- Life and fire safety in the design, construction and outfitting of new and existing facilities
While all Performance Standards (PS) are applicable to this investment, IFC’s environmental and social due diligence indicates that the investment will have impacts which must be managed in a manner consistent with the following Performance Standards:
- PS1: Social and Environmental Assessment and Management System;
- PS2: Labor and Working Conditions;
- PS3: Pollution Prevention and Abatement;
- PS4: Community Health Safety and Security.
Issues relating to PS5: Land Acquisition and Involuntary Resettlement have not been identified and are not expected. Land bought by Centro Medico is located in urban areas, and is purchased on a willing buyer – willing seller basis.
Issues relating to PS6: Biodiversity Conservation and Sustainable Natural Resource Management; PS7: Indigenous Peoples and PS8: Cultural Heritage have not been identified at present. However these aspects will be assessed for all new projects in order to determine applicability. |
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| For inquiries about the project, contact: |
Mr. Alejandro Gil Luna
Blvd. Puerta de Hierro No.5150
Plaza Corp. Zapopan, C.P. 54116
Guadalajara, Mexico
Telephone: + 33-3848-4052
Fax: + 33-3848-4007
E-mail: alejandro.gil@cmpdh.com
Website: http://cmpdh.mexdesign.org/
The environmental and social documentation (ESRS and ESAP) will be made available locally at the above location. |
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| For inquiries and comments about IFC, contact: |
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster |
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