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IDB Invest provides covid-19 loan to Albert Einstein Hospital in São Paulo
Dias Carneiro Advogados has helped the IDB Invest lend 200 million reais (US$37 million) to São Paulo-based hospital group Sociedade Beneficente Israelita Hospital Brasileira Albert Einstein (SBIBAE), which will use the money to cover expenses linked to the fight against covid-19.
Bettamio Vivone e Pace Advogados Asociados advised the hospital group. The deal closed on 30 October. This is the first long-term IDB Invest loan fully governed by Brazilian law.
SBIBAE will use the money to finance its response to the pandemic, both within its main hospital, Albert Einstein Israelite Hospital (HIAE), and in external projects.
It will add 743 new beds in two public hospitals in southern São Paulo, called Hospital Municipal Dr. Moysés Deutsch (M’Boi Mirim) and Hospital Municipal Vila Santa Catarina (Dr. Gilson de Carvalho). The addition will increase their total number of beds to 1,081. HIAE operates the hospitals through a partnership with the city government and provides services through the national health services, SUS.
The hospital group will add two field hospitals to the Hospital of Campo Limpo’s emergency care unit, while also invest in a screening tent, which will help the hospital provide safer covid-19 testing for potential patients.
Field hospitals are temporary medical units that care for casualties on site, before they can be safely transported to a more permanent location.
In addition, the HIAE – widely considered to be one of the best hospitals in Latin America – will use part of the funds to expand its intensive care unit by another 94 beds, and its adult semi-intensive care unit by 11 beds.
Outside its hospitals, SBIBAE will also use the loan to support research and disease prevention in disadvantaged communities and to donate personal protective equipment (PPE) to the states of Amazonas, Pará and Ceará.
SBIBAE was founded in 1955 by a group of Jewish community members in São Paulo.
Counsel to IDB Invest
In-house counsel – Patricia Alves de Toledo
Dias Carneiro Advogados
Partners Thiago Vallandro Flores and Gustavo Junqueira, and associates Pedro Malvezzi de Araújo, Luiza De Munno and João Guilherme Rodrigues de Jesus
Counsel to Sociedade Beneficente Israelita Hospital Brasileira Albert Einstein (SBIBAE)
In-house counsel – Rogéria Leoni Cruz, Poliana Pereira Bilac and Catarine do Prado Castro.
Bettamio Vivone e Pace Advogados Asociados
Partners Fábio Bettamio Vivone, Ricardo Alexandre Hidalgo Pace and Henrique Fernandes
