PROJECT

Projects

Summary of Investment Information

Project Number

42285

Company Name

HUMANIA NORTH AFRICA HOLDING LTD

Date SPI Disclosed

May 2, 2019

Country

Middle East, Pakistan, and Afg Region

Region

Middle East

Projected Board Date

Jun 20, 2019

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 30, 2022

Department

Regional Industry - MAS Africa

Industry

Health, Education and Life Sciences

Previous Events

Approved : Sep 13, 2019
Signed : Dec 23, 2019
Invested : Jun 3, 2020

Sector

Hospitals and Clinics

Project Description

The project is to incorporate a holding company, Humania, that will focus on developing a network of high-quality multispecialty hospitals and healthcare assets in emerging markets, mainly North Africa and Pakistan (the “Project” or “HoldCo”). Humania will be established by Bait Al Batterjee Medical Co (“BAB Group”), an existing IFC client, and will initially focus on four projects (total of 641 beds): acquisition of one operating hospital from BAB Group in Egypt; two greenfield projects in Egypt; and one greenfield project in Morocco.

BAB Group will provide a turnkey development solution and operational support to Humania and all assets will be operated under the Saudi German Hospital banner.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation