Ciel Healthcare

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Ciel Healthcare Limited (“CHL”) is a Mauritian registered company that invests in, and manages, secondary and tertiary healthcare delivery providers across Sub-Saharan Africa (“SSA”). CHL is a wholly owned subsidiary of Ciel Ltd (“Ciel”), a leading Mauritian industrial and investment conglomerate listed on the Mauritius Stock Exchange. CHL is an investment holding company that makes equity investments in healthcare service providers. Post-investment, the healthcare assets are managed by CHL’s wholly owned subsidiary Ciel East Africa Healthcare Limited (operating under the name ’Ciel Healthcare Africa‘ (“CHA”)), in association with Fortis Healthcare Limited (“Fortis”), a leading Pan-Asian healthcare delivery provider through an Advisory & Business Support agreement. Fortis is an existing client of IFC (Project ID #33057), disclosed in November 2013 (and available on IFC’s web site). Under the Advisory & Business Support agreement, CHA is responsible for the infrastructure, management and administration of the investment, while Fortis is responsible for providing management level support particularly around processes and protocols (technical support), medical and paramedical personnel, and ongoing training of staff.IFC is proposing a [US$6.75] million equity investment, for a [17.4%] stake in Ciel Healthcare Ltd (CHL). IFC’s investment would be alongside a capital injection by Ciel Ltd, and other investor(s). The investment would be used to acquire and manage healthcare delivery providers across Sub-Saharan Africa by CHL (the “Project”). CHL has an existing portfolio of three assets: The Medical and Surgical Centre Limited (“MSCL”) (58.60%), Ciel Healthcare Africa (100%) and the Laboratoire International de Bio Analyse Ltée (“LIBA”) (35%).