Quito, Ecuador, May 7th, 2024. The International Finance Corporation (IFC), a member of the World Bank Group, granted a US$25 million loan to Grupo Conclina for the construction of a new hospital in Cumbayá (a new urban growth area located at east of Quito), to promote more affordable and high-quality health services in Ecuador.
The loan to Grupo Conclina, Ecuador's leading health services organization, will also be directed toward upgrades to existing infrastructure, including the implementation of its digital transformation. This is IFC's third financing to Grupo Conclina, identified as a strategic client given its strong demonstration effect in Ecuador, driven mainly by the institution's high-quality standards. Since 2022, Grupo Conclina has been part of IFC's Digital Global Health Platform (DigiHealth), which encompasses tools to plan, prioritize, finance and implement successful digital transformation strategies.
Ecuador's healthcare system is struggling to keep up with the growing demand for quality healthcare services and specialized care, exacerbated during the COVID-19 pandemic. According to the National Institute of Statistics and Censuses (INEC), Ecuador only has 1.4 beds per 1,000 inhabitants, a figure below the regional average of 1.9 and the global average of 2.7. Given the limited public resources available for health services, the private sector can play a key role in complementing public capacity by expanding access to specialized care and reducing the direct burden on the public sector.
Matilde Bordón, IFC Country Manager for Peru, Ecuador and Bolivia, assured: "This new loan to Grupo Conclina reaffirms IFC's commitment in the region to make investments and advice that foster best practices in healthcare and promote the deployment of innovative technologies. We are proud to support Grupo Conclina in its mission to provide Ecuador with affordable and quality medical services."
José Barahona, Chairman of the Board of Directors of Grupo Conclina, said: "We see in this initiative an exceptional opportunity to contribute to the growth of Quito, marking a significant milestone in our commitment to the health and development of the city."
IFC has an active portfolio of $3.5 billion in healthcare companies in emerging markets. Through these investments, IFC supports governments in their goal of achieving Universal Health Coverage by 2030.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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About Conclina Group
Grupo Conclina, a leader in Ecuador's private health market that currently has a total turnover of USD 175 million and assets of USD 120 million, has been a beacon of excellence and care in the healthcare landscape since its inception in 1985. Grupo Conclina is the owner of the Metropolitan Hospital, which is not only the largest private hospital in the country, but also manages the highest quality standards on international scales. Grupo Conclina guarantees a comprehensive medical system through Humana S.A., a company that manages the prepaid medicine division, and Metrored, a company dedicated to outpatient care and telemedicine, mainly in Quito and Guayaquil. Grupo Conclina provides accessibility and innovation in medical care for the benefit of thousands of Ecuadorians.
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