IDB Invest and Santander have provided a financing package of up to US $100 million, consisting of an IDB Invest A Loan of up to $20 million and a Banco Santander B Loan of up to US $80 million to Sociedade Beneficente Israelita Brasileira Albert Einstein, a not-for-profit healthcare organization established in Brazil.
The $100 million amount will finance Einstein’s investments and expenses in the new Global Center for Advanced Oncology and Hematology Care Therapies, a world-class academic center for research in oncology and hematology and a care complex that will focus on prevention, diagnosis, treatment, rehabilitation, and survivorship, which is a program that supports patients after treatment in physical, psychosocial, emotional, and spiritual aspects, among others.
The Center is expected to be operational by 2025, in Parque Global, in São Paulo – the largest real estate project in development in Latin America – and will draw together the expert physicians and providers across a culture of continuous learning and education for the benefit of the patients and their families.
Einstein envisions becoming one of the ten best hospitals in the world for healthcare and treatment of cancer and hematological diseases, responding to the increased demand for this type of treatment.
Brazil is going through major epidemiological change, with the burden of non-communicable diseases, such as cancer, rapidly outstripping infectious diseases. It is critical to promote investment in healthcare infrastructure to address this situation.
Cancer is a leading cause of death in Brazil and the Americas, being responsible for 1.4 million deaths in the region in 2020 according to the World Health Organization. In Brazil, the World Health Organization reported more than 590,000 new cases of cancer in 2020, and this is expected to double by 2025.
Additionally, the number of people in the country living with cancer and/or rehabilitated from the disease is also growing, requiring more focus on the management of their health needs and quality of life.
The new Global Center for Advanced Oncology and Hematology Care Therapies, dedicated to patient care and research, will occupy a 38,000 m2 site in Parque Global and will include ten operating rooms, one hybrid room, two robotic operating rooms, 160 automated beds, 20 intensive care units, 20 semi-intensive care units, 120 medical clinics, 84 physicians’ offices, 36 chemotherapy rooms, 15 laboratories, a blood bank and emergency oncology care for approximately 12,000 patients per year.
It will also offer the ultimate in tests and treatments with image-guided intervention systems, magnetic resonance imaging, computerized tomography, CT PETs (one of the most accurate tests for cancer detection) and linear accelerators.
This deal is expected to contribute to three United Nations Sustainable Development Goals: Good Health and Well-being, Clean Water and Sanitation, Decent Work and Economic Growth, Industry, Innovation and Infrastructure, Responsible Consumption and Production, Climate Action, and Partnerships for the Goals.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector.
IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region.
With a portfolio of US$15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About Santander Brazil
Santander Brazil started its activities in Brazil in 1982 and, through mergers and acquisitions of more than 70 banks, has created competitive wholesale and retail structures. It is part of Grupo Santander, one of the largest banks in the world in market value, with relevant presence in 10 key countries in Europe and America.
The only international financial institution with a strong presence in retail banking, it has 51 thousand employees, around three thousand branches and banking service points (PABs), more than 35 thousand self-service terminals, and regional offices to serve 31.5 million active customers.
Elected one of the most sustainable companies in 2022 by the ESG Best of Exame Guide, the Bank seeks to increasingly promote inclusive and environmentally responsible business.
About Einstein
Founded in 1955, Sociedade Beneficente Israelita Brasileira Albert Einstein is a non-profit organization and operates in private and public health in all stages of healthcare, teaching and education, consulting, research and innovation, and social responsibility.
The service provision structure is comprised of 22 private and 29 units in the Public Health System (SUS) and nine teaching units. Einstein provides healthcare services to around 3 million people, has 45 thousand students from kindergarten to graduate courses and carries out at any given time around 1 thousand scientific and clinical research projects.
In 2023, for the fourth consecutive time, Einstein was elected the best hospital in Latin America by The World’s Best Hospitals ranking, published by the North American magazine Newsweek.
The health organization is the only Brazilian and Latin American institution in the top 100. The hospital ranked 34th in the global ranking.
Sources: THX News & IDB Invest.
