Environmental & Social Review Summary
Project Number
26323
Company Name
CONTROLADORA DE SERVICIOS MEDICOS S.A. DE C.V
Date ESRS Disclosed
Nov 2, 2007
Country
Mexico
Region
Latin America and the Caribbean
Last Updated Date
Nov 30, 2016
Environmental Category
B - Limited
Status
Completed
Previous Events
Approved : Dec 26, 2007
Signed : Jan 4, 2008
Invested : Apr 10, 2008
Sector
Hospitals and Clinics
Industry
Health, Education and Life Sciences
Department
Gbl Ind, Manufact, Agribus & Services
Project Description
The proposed $36 million Centro Medico Puerta de Hierro (CMPDH II or the project) repeat project will involve the construction of a new 57 bed hospital in the Tlajomulco district of Guadalajara, Mexico. The facility will offer trauma, gynecological and general medicine services and will include 20 consultation offices to be sold to doctors, following the successful model implemented in the first hospital project implemented by the Sponsors (see below). The Tlajomulco district is in the southern part of Guadalajara and is a growing residential area that currently has no hospitals or clinics. Land for the project has been identified and a first payment has already been made on the property. The Sponsors expect to commence construction in first quarter of 2008.
In June 2005, IFC committed a $14.5 million A loan to finance part of a $69.0 million project to construct and operate a Greenfield medical complex (CMPDH) in the Zapopan district of Guadalajara, consisting of an ambulatory surgical center and a 90-bed general tertiary care hospital. Both facilities are now completed and operational. Both facilities also opened with inaugural year performance significantly above IFC projections (see Figure 1). Although the ambulatory surgical center has experienced slower growth than projected, the hospital more than compensates, having reported a gross profit almost four times IFC projections and is achieving EBITDA margins of almost 30%, only one year after opening. This makes CMPDH one of the most successful hospitals in IFC’s portfolio. CMPDH’s 2007 budget for the ambulatory and hospital (supported by results for the first quarter) exceeds initial projections.
In June 2005, IFC committed a $14.5 million A loan to finance part of a $69.0 million project to construct and operate a Greenfield medical complex (CMPDH) in the Zapopan district of Guadalajara, consisting of an ambulatory surgical center and a 90-bed general tertiary care hospital. Both facilities are now completed and operational. Both facilities also opened with inaugural year performance significantly above IFC projections (see Figure 1). Although the ambulatory surgical center has experienced slower growth than projected, the hospital more than compensates, having reported a gross profit almost four times IFC projections and is achieving EBITDA margins of almost 30%, only one year after opening. This makes CMPDH one of the most successful hospitals in IFC’s portfolio. CMPDH’s 2007 budget for the ambulatory and hospital (supported by results for the first quarter) exceeds initial projections.
Overview of IFC's Scope of Review
The review of this project consisted of analyzing documentation and information provided by the sponsor on environmental and social management and performance for the existing operations as well as a supervision visit. The site visit included a detailed physical inspection of hospital facilities, discussions with people responsible for EHS aspects at a facility level and at a corporate level. Assessment and compliance with IFC Performance Standards was based on their current practices.
