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
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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
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12/13/2018

Approval date

01/14/2019

Signed date

03/27/2019

Sponsoring entity

N/A

Team leader

Vieiro Cobas, Javier

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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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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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Emilce Vazquez

POSITION

Senior Manager, Administration and Finance - CFO

PHONE NUMBER

+54 (011) 4323-0300 Ext. 3032

EMAIL

EVazquez@emergencias.com.ar

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices