Farmaenlace Cía. Ltda

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Farmaenlace is an Ecuadorian company that imports, distributes, sales, and commercializes medicines, drug preparations, sanitary and medical articles and instruments, among others. It has other commercial product lines in minor scale, which are part of their portfolio mix at their own pharmacies stores.The Company has two business lines: (i) pharmaceutical distribution, focused on independent pharmacies or associates stores, and (ii) direct sales through its own pharmacies chains (with almost 500 pharmacies stores in Ecuador).The loan to Farmaenlace aims to provide medium-term financing for the expansion of pharmacies, mainly through the franchise format of “Farmacias Economicas”. The estimated cost of the project is US$ 10 million, which would be executed during the years 2016 and 2017.With IIC’s participation, Farmaenlace will be able to scale with greater intensity a unique model of franchises in the country, through which the entrepreneurship of small independent pharmacists or entrepreneurs is encouraged. At the same time that jobs are created, the populations or communities where the pharmacies are opened, will have greater access to medicines and related goods, as well as better prices and certain health services that are offered with some regularity.