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| Healthway |
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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 | 28975 |
| Company name | Healthway Medical Corporation Limited |
| Country |
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| Sector | Hospitals and Clinics |
| Environmental category | B |
| Department | Reg Manufact, Agri & Services, ASIA |
| Status | Active |
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| Date SPI disclosed | January 22, 2010 |
| Projected board date | February 23, 2010 |
| Previous Events | Invested: May 4, 2010
Signed: March 15, 2010
Approved: March 8, 2010 |
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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 |
| Healthway Medical Corporation Limited (“Healthway”) is Singapore’s largest network of private medical centers and clinics offering primary healthcare, dental and specialist services. Healthway seeks to expand in China by establishing a network of accessible and affordable multi-specialty medical centers and clinics. |
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| Project sponsor and major shareholders of project company |
| Healthway operates over 90 clinics and medical centers located island-wide in Singapore, as well as within all the major private hospitals and has over 160 full-time doctors and more than 360 clinical staff. Healthway was listed on Catalist of the Singapore Exchange Securities Trading Limited on July 4, 2008. The largest shareholders of Healthway include Mr. Fan Kow Hin, Mr. Aathar Ah Kong Andrew, Mr. Jong Hee Sen, and One Organisation Limited. |
| Total project cost and amount and nature of IFC's investment |
| IFC has been requested to provide a financing of up to $25 million to help finance part of Healthway’s expansion into China. |
| Location of project and description of site |
| The facilities are expected to be located in various sites around the greater Shanghai area and the neighboring provinces. Most of the facilities will be located outside of central Shanghai, in the more suburban or underserved areas of the city. |
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| Anticipated development impact of the project |
| This project is expected to increase access to high quality medical services in the greater Shanghai area, promote regional integration and dissemination of best operational and clinical practices, provide community health services per the China health care reform blueprint, and generate high quality employment opportunity for medical professionals in China. |
| IFC's expected development contribution |
| IFC will share its knowledge of the private health sector in China and provide strategic advice based on best practices observed in its global portfolio. IFC will provide long term financing which is currently not readily available in the China market. IFC's investment will also send a positive signal to other investors, which will assist Healthway to raise additional capital to support the project. |
| Environmental and social issues - Category B |
This is a Category B project with a limited number of specific and reversible E&S impacts which can be avoided or mitigated. Key E&S issues reviewed included: E&S management system; emissions to the environment – air, water and subsurface; solid, hazardous, biomedical and infectious medical waste and materials management, storage, collection and disposal; life and fire safety (L&FS), emergency preparedness and response program; community and occupational health and safety; energy use and efficiency; and community engagement.
The Company is committed to implementing actions that would ensure compliance with national regulatory and IFC performance standard requirements. |
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| For inquiries about the project, contact: |
David Yan
Healthway Medical Corporation Limited
2 Leng Kee Road, #06-02 Thye Hong Centre, Singapore 159086
Telephone: +65 6518 0135
Fax: +65 6479 5347 |
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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 |
| Local access of project documentation |
Healthway Nobel Eye Hospital & Clinic
371 Xin Zha Road
Shanghai, 200003
Telephone: +137 6181 2971 |
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