Summary of Proposed Investment
Project Number
9355
Company Name
ABC Medicover Holdings B.V.
Date SPI Disclosed
Feb 5, 1999
Country
World Region
Industry
Health, Education and Life Sciences
Status
Completed
Sector
Hospitals and Clinics
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Apr 15, 1999
Signed : May 14, 1999
Invested : Aug 27, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Central & Southern Europe: Medicover |
RegionCentral & Southern Europe
Sector
Project No009355
Projected Board DateMarch 5, 1999
Company NameABC Medicover Holdings B. V.
Technical Partner and/or Major Shareholders
The Sponsor is ORESA Ventures ("ORESA"), a Swedish venture capital company with interests in health care, consumer goods, and distribution sectors. It is listed on the Stockholm stock exchange. ORESA owns 68.2% of Medicover''s shares.
Project Cost Including Proposed IFC Investment
The proposed US$22 million project is designed to expand the existing Medicover operations in Central and Eastern Europe through (i) establishment and operation of a network of outpatient clinics; (ii) development and marketing of new services; and (iii) upgrade of management and information systems. IFC''s proposed investment will consist of a loan(s) of up to US$7 million.
Location of Project and Description of Site
At present, Medicover operates clinics in Poland, Romania, Hungary, and Estonia. As part of the Project, Medicover will expand the number of facilities in countries of its current operations and will open new facilities in other CEE countries.
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
ABC Medicover Holdings B. V. ("Medicover"), headquartered in Warsaw, was incorporated in 1996. Medicover offers a full range of coordinated health care services to companies and individuals. At present, Medicover serves approximately 20,000 members. IFC will provide Medicover with long-term financing to expand its operations in Central and Eastern Europe. The project will extend high quality private health care services to the local population and will serve as an excellent example for public institutions in the region.
Environmental Category and Issues
This is a category B project according to IFC''s environmental review procedure. The following environmental, health and safety issues associated with the project were analyzed by IFC''s staff: site selection and site environmental and social conditions; handling and disposal of medical materials including bio-hazardous waste; infection control, hygiene and good clinical management practices; fire prevention and emergency response; and occupational health and safety. Medicover has presented information that demonstrates that it is aware of these issues and has stated that the proposed project will comply with applicable local, national and World Bank requirements.
The is from the Public Information Center.
| Host country location of environmental documents | Medicover''s offices in Poland, Romania, Hungary, Estonia |
Date SPI sent to InfoShop February 5, 1999
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
