30678 - MedLife III

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Summary of Proposed Investment

Project Number

30678

Company Name

MED LIFE S.A.

Date SPI Disclosed

May 11, 2011

Country

Romania

Industry

Health, Education and Life Sciences

Projected Board Date

Jun 10, 2011

Status

Completed

Sector

Hospitals and Clinics

Department

Gbl Ind, Manufact, Agribus & Services

Environmental Category

B - Limited

Previous Events

Approved : Jul 31, 2011
Signed : Aug 11, 2011
Invested : Oct 17, 2011

Project Description

Med Life SA (“MedLife” or the “Company”) is a leading player in the Romanian private health care market. It provides integrated medical services for corporate clients and individuals and operates a 120-bed private hospital in Romania (Life Memorial Hospital), 9 hyperclinics (large clinics providing an extensive range of high quality clinical services), 7 laboratories, 4 medical centers, and a pharmaceutical retail chain. MedLife also has one of the largest subscriber base in the Romanian corporate market. MedLife is an existing IFC client and plans to invest up to approximately EUR 52 million in 2011-2015 to expand operations in Romania: (i) build new hospitals and hyperclinics in Bucharest and cities across Romania; (ii) develop laboratories; and (iii) target acquisitions of smaller outpatient clinics, laboratories and hospitals.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	6.40
Equity	5.0

Development Impact

- Increase access to quality healthcare services in Romania, including in cities outside Bucharest; - Relieve burden on over-crowded public system and support a viable private sector alternative which is increasingly seen as necessary to address healthcare needs in the country; - Continue to establish benchmarks for quality healthcare, in preventive and specialized care in line with market demand; - Promote transparent practices in the local health sector and raise standards of quality and ethics; - Offer employment and development opportunities for health personnel in an environment conducive to the practice of high quality medicine.

IFC will support: - The growth of an existing IFC client by sharing global industry knowledge and experience, a role which IFC has played over the past 4 years and one which is appreciated by the Company's management and owners; - The expansion of the Company's network into smaller cities across Romania where its brand is less recognized; - IFC is planning to mobilize up to EUR 40 million in additional funds through its B loan program which has increased the proposed participant bank's interest to provide longer term finance better suited to client's needs.

Key issues for this project taken into account during appraisal include site selection, land acquisition and permitting; corporate environmental and social management systems, including management of construction and operations of the hospitals/clinics, management of solid and liquid waste, in particular hazardous medical wastes and water quality; air emissions control, occupational health and safety activities, prevention of nosocomial diseases; life and fire safety and consideration of seismic risks within the context of the protection of community health and safety. The appraisal concluded that any impacts will be limited, site-specific and can be addressed by adhering to generally recognized performance standards, guidelines or design criteria. Therefore, this is a Category B project according to IFC’s Environmental and Social Review Procedures.

Contacts

For Inquiries About the Project, Contact

Contact Name: Mr. Dorin Preda Address: Calea Grivitei nr. 365. Sector 1, Bucharest, Romania Tel: +40746464606 E-mail: dpreda@medlife.ro

For Inquiries and Comments About IFC, Contact

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

Local Access of Project Documentation

Med Life SA Calea Grivitei nr. 365. Sector 1, Bucharest, Romania

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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