Company name
International Health Services Argentina S.A.
Project number
12201-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Argentina
Sector
Social Infrastructure
Status
In implementation
Disclosed date
11/12/2018
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/13/2018
Approval date
01/14/2019
Signed date
03/27/2019
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
IDB Invest will grant a senior loan of up to US$10 million with a term of up to six (6) years, including a grace period of up to two (2) years, to International Health Services Argentina S.A. (IHSA or the Company). The IDB Invest loan funds will be used to acquire and develop new technologies, operating infrastructure, and facilities. Major investments will be used to (i) purchase new medical equipment; (ii) modernize facilities; (iii) acquire operating infrastructure for new business lines; (iv) update and renew technology and communications; (v) purchase medical aircraft; and; (vi) invest in data science (all together, the “Project”).
Brief Project Description
IHSA began its activities in 1979 as Emergencias Sociedad Anónima, primarily to provide out-of-hospital services to individual clients in the city of Buenos Aires.
Currently, IHSA S.A. (known in the market as “Emergencias”) and its private network and partners cover more than seven million clients, through its various trademarks: Emergencias, Emerphone, Contigo, Eca, Embarazadas, and Emermind. The services that IHSA provides through these companies include the following: medical care services, health-related and special emergency transfers, home care, medical telecare, complex operations (medical and emergency services in difficult-to-access areas), coverage and health service station at airports, technologies development, training, and corporate medicine, among other services. In 2016, the group’s companies provided a total of 2.5 million medical treatments. The company has 14 locations and a mechanical workshop/carwash in the city of Buenos Aires, 15 locations in the province of Buenos Aires, and eight locations distributed in the cities of Resistencia (Chaco), Posadas (Misiones), Cipolletti (Rio Negro), San Juan (San Juan), Luján de Cuyo (Mendoza), Rio Gallegos (Santa Cruz), Neuquén (Neuquén), and Esquel (Esquel). It has a fleet consisting of 231 of its own vehicles and 480 contracted vehicles.
Its expansion strategy (own network and partners) has allowed IHSA to provide health services to populations outside the urban centers that formerly had only precarious services. In recent years, IHSA has provided medical care to communities of less than two thousand inhabitants, where there used to be little or no access to quality health services. It has also begun to provide coverage in complex undertakings such as oil drilling and mining, a growing and expanding business.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY – EMERGENCIAS ARGENTINA
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