25344 - Hosp Sao Luiz

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Summary of Proposed Investment

Project Number

25344

Company Name

São Luiz Operadora Hospitalar S/A.

Date SPI Disclosed

Dec 21, 2006

Country

Brazil

Industry

Health, Education and Life Sciences

Projected Board Date

Jan 23, 2007

Status

Completed

Sector

Hospitals and Clinics

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Mar 2, 2007
Signed : Oct 23, 2007
Invested : Feb 22, 2008

Project Description

In 2004, as part of its strategy to expand its footprint and establish a network of private hospitals in Brazil, São Luiz Group (SLG or São Luiz) entered into a partnership with a local real estate investor to launch a 334-bed maternity and general hospital in the eastern region of the city of São Paulo, the Hospital e Maternidade Anália Franco (HMAF). As part of the deal, real estate investors will own and maintain the building and SLG will enter into a long term lease (15 years renewable for another 15 years) to rent the facility. Anália Franco is scheduled to open in May 2007.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	17.0
Equity

Development Impact

The hospital in Brazil will have a strong development impact by:

- Increasing standards for delivery of health services in Brazil. As one of the leading hospitals in the country, SLG is constantly introducing new practices and procedures through its network of hospitals to increase the efficacy of its services;
- Promoting rationalization of the private Health sector in Brazil, with SLG’s emphasis on protocols and efficiency standards in the operation of its hospitals;
- Assimilating and disseminating best practices in delivery of health services from leading institutions in the world; and
- Offering an attractive employment alternative to increasing numbers of local health professionals, currently over 11,000 accredited doctors and 2,700 staff.

By partnering with the SLG, IFC will:

- Share international experience and best practices to support one of the few hospital groups in Brazil that appears to be capable of leading a process of rationalization and consolidation of private health services in the country;
- Provide attractive, long term, financing to facilitate delivery of health services to a largely underserved, middle class area in the city of São Paulo; and
- Help promote investments in the sector by mobilizing capital from other market lenders under our B-Loan structure (Banco Santander is keen on participating in IFC sponsored transactions in the sector).

The project will have limited potential adverse environmental and social impacts. Also any impacts will be few in number, site-specific, reversible, and easily addressed through agreed mitigation measures. As a result of the above this is a Category B project according to IFC’s Environmental and Social Review Procedures.

The following Performance Standards apply to this project:

- PS1 Social and Environmental Assessment and Management
- PS2 Labor and Working Conditions
- PS3 Pollution Prevention and Abatement
- PS4 Community Health, Safety and Security

The relevant guidelines have been provided to and discussed with the client in a meeting on October 25, 2006 and site visit on October 26, 2006 (i.e. General Environmental Guidelines, July 1998; Occupational Health and Safety Guidelines, June 2003; Life and Fire Safety Guidelines, December 2003; Hazardous Materials Management Guidelines, December 2001; and Health Care Facilities, May 2003).

Contacts

For Inquiries About the Project, Contact

Mr. André Staffa Filho, CEO
Hospital São Luiz
Av. Santo Amaro, 722 6° andar
04506-000 São Paulo SP, Brazil

Telephone: +55 (11) 3849-8893
Fax: +55 (11) 3040-1185
Email: andrestaffa@saoluiz.com.br

For Inquiries and Comments About IFC, Contact

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IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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