40783 - ESIP Vezeeta

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Summary of Investment Information

Project Number

40783

Company Name

DR BRIDGE LLC

Date SPI Disclosed

Jun 3, 2018

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Jul 19, 2018

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

Sep 30, 2022

Department

Equity Portfolio Management

Industry

other

Previous Events

Approved : Aug 29, 2018
Signed : Mar 7, 2019
Invested : Mar 27, 2019

Sector

other

Project Description

DrBridge Holdings Ltd. ("Vezeeta" or "the Company") is creating a digital healthcare platform for the Middle East and North Africa ("MENA"), focusing on booking and medical apps for private doctors and patients. Launched in Egypt in 2012, Vezeeta salso operates in Jordan and plans to soon expand to Saudi Arabia and the broader MENA region. The Company is transforming the way patients and doctors schedule appointments and manage health outcomes in MENA. The two main product offerings are: (1) a consumer-facing web app and mobile app where users can find doctors by neighborhood, specialty, insurance and ratings to book an appointment; and (2) Clinic management software and premium mobile apps for doctors, which enable them to manage appointments and patient data as well as to communicate with patients.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	1.0

Development Impact

- Improved access to quality care by lowering the transaction costs of finding relevant doctors and specialists. Through Vezeeta, patients are able to search for doctors based specialty, location, gender, etc. This is particularly relevant for patients who would otherwise struggle to find doctors to meet their needs, such as female patients who prefer female doctors (+20% of the doctors on the Vezeeta are female) and rural patients seeking medical care (represent 19% of the bookings). - Increased transparency and accountability through doctor details and rating system, which in turn improves health outcomes and patient welfare. - Enhanced connectivity within the broader healthcare system through roll-out of new and future products including pharma detailing, doctor-to-doctor referrals, lab integration, etc.

- Stamp of Approval: IFC's support is expected to enhance Vezeeta's profile and credibility in a nascent sector, providing comfort for future co-investors, regulators, and operating partners. - IFC's global industry expertise and client network: IFC will support Vezeeta in its expansion goals by leveraging our knowledge and relationships across the healthcare space globally and in MENA in particular. - Institution building: IFC will promote best practices in insurance, corporate governance, and E&S, which are critical for a growth stage company.

E&S Category Rationale / Risks and Mitigation

This is a Category C project according to IFC's Environmental and Social Review Procedure, as a low level of environmental and social (E&S) risk can be expected in this project. The principal Performance Standards (PSs) applicable to the project are PS1 and PS2. Vezeeta leases office spaces and purchases off-the-shelf equipment, which entail minimal E&S risk. The key E&S risk in this project exists in Vezeeta’s management of human resources. IFC will require Vezeeta to implement documented policies and procedures on its management of human resources consistent with IFC’s Performance Standards for the duration of IFC’s investment and to report on any E&S incident.

Contacts

For Inquiries About the Project, Contact

Vezeeta
Amir Barsoum
CEO
+2 02 259 83 999
customercare@vezeeta.com
Heliopolis Cairo, Egypt
https://www.vezeeta.com/

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Fax: 202-974-4384

Local Access of Project Documentation

Corporate Headquarters

124 Othman Ibn Affan Street

Heliopolis Cairo, Egypt

General Inquiries: +2 02 259 83 999

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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