|
|  |
| Allianz Eurasia Health Care |
|
| 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 | 27977 |
| Company name | Allianz Eurasia Health Care |
| Country | Russian Federation |
| Sector | Health Care |
| Environmental category | B |
| Department | Health and Education |
| Status | Pending Approval |
|
| Date SPI disclosed | June 8, 2009 |
| Projected board date | July 15, 2009 |
|
| View Environmental & Social Review Summary (ESRS), click here |
|
| Overview |
Sponsor/Cost/Location |
Development Impact |
Contacts |
Attachments |
| Project description |
| The proposed project by Allianz Eurasia Healthcare (“AEHC” or the “Company”), a healthcare provider in Russia, involves the expansion of its existing operations in the North West Region through establishment of 15 new outpatient clinics within the North West Region, Moscow Region and Volga Region (the “Project”). The Company will conduct its operations as MedPlanet. |
|
| Project sponsor and major shareholders of project company |
| The Company is a new entity to be formed. It will comprise the existing health care delivery operations and assets of OJSC IC ROSNO (“ROSNO” or the “Sponsor”) and its affiliates. The Sponsor will be a controlling shareholder of the Company. ROSNO is a top 5 Russian insurance company. Allianz SE (“Allianz” or the “Group”), one of the largest insurance groups in the world based in Germany, owns 99.4% of ROSNO. |
| Total project cost and amount and nature of IFC's investment |
| IFC’s investment will comprise a EUR 15 million ($19.5 million) A loan for IFC’s own account and an option to purchase shares in the Company in the amount of up to EUR 5 million ($6.5 million). |
| Location of project and description of site |
| The Project will be located in urban areas within the North West Region, Moscow Region and Volga Region. |
|
| Anticipated development impact of the project |
The following are the key development impacts of the Project:
- Expand access to quality healthcare in Russia, including outside of Moscow and St. Petersburg;
- Emphasize primary/preventive care in the Russian health system, which is historically characterized by narrow specialization with almost no general practice/family medicine;
- Contribute to the growth of voluntary medical insurance (VMI) market in Russia and as a result, to improved quality standards, accessibility of care, and overall reduction of health care costs to society through increased efficiency;
- Serve as a benchmark for the industry by introducing professional management and a long-term commitment to patient satisfaction and clinical quality at affordable prices.
- Attract and retain skilled physicians by providing competitive compensation, quality equipment and work environment, and training. |
 |
| IFC's expected development contribution |
IFC’s role and development contribution will be to:
- Provide long-term financing on reasonable terms in a difficult market environment to support the Company’s growth;
- Catalyze other private investors in the Company: long-term lenders and potential equity investors;
- Share global industry knowledge, experience and network of contacts;
- Provide a “stamp of approval” for the Project and the Company, enhancing the prospects for successful deployment of the clinics and expansion of private health insurance in Russia. |
| Environmental and social issues - Category B |
This is a Category B project according to IFC’s Environmental and Social Review procedures because a limited number of specific environmental and social impacts may result which can be avoided, or mitigated, by adhering to IFC’s Performance Standards, guidelines and the Environmental and Social Action Plan (ESAP).
Environmental and social issues associated with this project include: (i) development and implementation of a corporate environmental, health and safety management system; (ii) occupational health & safety issues, including fire protection; (iii) management of medical and other waste; and (iv) community engagement.
Project is currently in full compliance with a set of local regulatory requirements which are particularly thorough for health service providers in Russia. The company is aiming at building on its existing expertise and management system and plans to expand its Environmental, Health and Safety (EHS) system to make it commensurate with the expansion of company’s business and the number of facilities.
Mitigation measures for the potential environmental and social impacts have been identified and are incorporated into an attached Environmental and Social Action Plan (ESAP). The Company has committed the resources to implement comprehensive environmental, health, safety and quality management systems consistent with IFC’s Performance Standards.
Full information about Environmental and Social Issues is provided in Environmental and Social Review Summary (ESRS) available at the Company. |
|
| For inquiries about the project, contact: |
Vyacheslav Klyuchnikov
Head of Business Development Department
OJSC IC ROSNO
30 Ozerkovskaya Nab., Moscow, 115184, Russia
Tel.: +7 495 9562105 ext. 3209
Fax: +7 495 9562105 ext. 3066
Vyacheslav.Klyuchnikov@rosno.ru
Ekaterina Musaeva, Project Manager
Allianz Eurasia Healthcare Management
Registered in 6,Gorokhovaya str., St.Petersburg
191186, Russia.
c/o OJSC IC ROSNO
Ozerkovskaya Nab., 30
Moscow, Russia 115184
Tel. (7 495) 956 2105 ext. 4023
Fax (7 499) 956 2105 ext. 4208
MusaevaEO@rosno.ru |
|
| 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 |
| Local access of project documentation |
Moscow & Volga Regions
NAME: Ekaterina Musaeva
ADDRESS: Ozerkovskaya Nab., 30, Moscow, Russia 115184
PHONE: (7 495) 956 2105 ext. 4023
North West Region
NAME: Natalia Shumilova
ADDRESS Gorokhovaya Str., 14/26, St. Petersburg, 191186
PHONE: (7 812) 314 3978 |
|
|
|
|