July 31, 2007 —IFC is ramping up health care investments in the Middle East as demand grows for new hospitals and clinics which are likely to dramatically reshape the underdeveloped health sector in the region. “IFC is very happy to work with strong sponsors to bring high-quality medical services to underserved markets in MENA, thereby also increasing employment opportunities for local health care professionals and helping to alleviate brain drain,” said Guy Ellena, IFC Director for Health and Education.
IFC is working with Saudi German Hospitals (SGH), a group that is keen to bring medical services to underdeveloped Middle Eastern markets. The Corporation's $37 million financing will support a new hospital in Sana'a, Yemen, and a hospital in Cairo, Egypt. The 300-bed multi-specialty hospital in Sana'a, which opened in June 2006, and a hospital of similar size under construction in Cairo, will raise medical standards in both countries. In Yemen, SGH is the only tertiary facility that meets international standards of patient care, customer service, governance, transparency, and IT systems. SGH’s visiting professor programs will bring practitioners and researchers to MENA from European universities to disseminate advanced medical knowledge.
A major participant in Saudi Arabia's health sector since 1988, SGH owns and operates five hospitals in that country. Over the past two decades, the group is regarded as a premier health services provider with a strong brand, employing over 5,000 staff and operating about 1,600 hospital beds. SGH is owned by Bait al Batterjee Medical Company.
SGH has extensive public health and education programs offered free of charge to the community. Activities include operating a regional blood bank, programs in HIV/AIDS prevention and treatment, rehabilitation for drug abuse, and maternal and child health.
IFC is also working with Egypt’s Dar Al Fouad Hospital (DAFH) to increase health care delivery, particularly tertiary services. The Corporation’s equity investment of EGP 24 million ($4.2 million equivalent) will help DAFH expand and refurbish the Arab International Hospital (AIH) in central Cairo. The project will significantly raise the quality of service in a very populated and underserved area where there is an acute need for health care, thereby also relieving the burden on the public health system. DAFH will also set up integrated health care centers in Saudi Arabia and other Arabian Gulf countries.
Founded in 1995, DAFH specializes in a number of fields, notably cardiology and cardiothoracic surgery, that contributes more than 50 percent of its revenues. Headquartered in the Six of October suburb of Cairo, DAFH is a model for best practices in Egypt’s medical community and an established private tertiary health care provider with an extensive track record.
Through its strategic alliance with the Cleveland Clinic Foundation, one of the best cardiac care centers in the United States, DAFH strengthens its professional development, quality management and treatment protocols to further ensure best clinical and administrative practices.
DAFH was accredited with the ISO 9000-2001 certification in 2002. It is one of the few institutions in the MENA region to achieve ISO certification and Joint Commission International accreditation.
DAFH has developed an effective community program including the Charity Society, formed in 1999, which focuses on congenital cardiac problems in children and has performed more than 40 operations in the last five years.
Health and Education Department, IFC