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.