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MedLife
Summary of Proposed Investment

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. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 25069
Company nameMedLife SA
Country
Romania
Sector1Hospitals and Clinics
Environmental categoryB
Department
StatusActive
Date SPI disclosedAugust 9, 2006
Projected board dateSeptember 18, 2006
Previous EventsInvested: November 13, 2006
Signed: October 16, 2006
Approved: October 13, 2006
View Environmental & Social Review Summary (ESRS), click here
click here
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
MedLife is a successful private healthcare provider owned by a family of physicians and bankers and headquartered in Bucharest. The company currently offers a wide range of medical care services through its 11 medical clinics in Bucharest and Ploiesti. MedLife also operates 3 medical laboratories in Bucharest as well as one of the largest private medical facilities in Romania, Hyperclinica. MedLife is currently building a 100 bed hospital adjacent to Hyperclinica, which is expected to open in November 2006. The IFC financing will allow MedLife to expand their high quality medical services to other areas of Romania, partially financing the development of new 40 to 50 bed hospital/clinic combinations (as in Bucharest) opening in Constanta, Timisoara, Brasov, Iasi, and Cluj over the next 2 to 3 years. All the sites for these developments have been purchased and these will all be greenfield developments (except the clinic in Timisoara which will be in a renovated building). The buildings, medical facilities, equipment, medical care and support have been established to meet both Romanian and international standards.

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