IIC Loan of MX$81 Million Supports Growth and Expansion of Mexico’s Health Sector
Stendhal to use proceeds of the loan to expand its portfolio of specialized pharmaceuticals in the region
Mexico City, Mexico, December 13, 2013 — The Inter-American Investment Corporation (IIC) has approved a loan of up to MX$81 million for Específicos Stendhal S.A. de C.V. (“Stendhal”), Farmacéuticos Maypo S.A. de C.V. (“Maypo”), and Stendhal Internacional S.A. de C.V. (“StInt”). These companies will use the loan proceeds to expand their portfolio of specialized pharmaceuticals for marketing in Mexico and other Latin American countries.
“Facilitating improvements to services in key sectors such as health underscores the IIC’s commitment to promoting economic development of the region’s private sector,” noted Rodrigo Navas, IIC lead investment officer in charge of the operation. “With this loan, the IIC is helping to stimulate technological development and innovation by enabling Stendhal to finance an expansion of its portfolio of specialized pharmaceuticals marketed in the region, as these products are essential to improving the quality of life of the population residing in Belize, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, and Venezuela.”
Stendhal, Maypo, and StInt are subsidiaries of Grupo Arfeldt S.A. de C.V., a holding company. The companies of the group are engaged in the production, distribution, logistics, and marketing of pharmaceuticals as well as health services management in Latin America.
Founded in 1974, Stendhal is a Mexican pharmaceutical laboratory that produces, imports, and markets specialized medications. In 2010, it received a transparency award from the Mexican pharmaceutical industry’s Council of Ethics and Transparency (CETIFARMA) in recognition of its good health promotion and transparent business practices. In January 2012, Stendhal was recognized by Mexico’s Confederation Chambers of Industry (CONCAMIN) with an award for exemplifying pharmaceutical industry ethics and values. This award is bestowed on companies that conduct their operations in accordance with values-based business models and develop in-house and community corporate social responsibility programs.
Established in 1993, Maypo is a distributor of specialized medications. It sells pharmaceuticals to Mexico’s public sector, including products produced and imported by Stendhal.
StInt is a holding company that consolidates the operations of Grupo Arfeldt in a number of Latin American countries.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2012, the IIC approved more than 70 operations totaling some US$400 million. Since its inception in 1989, the IIC has approved approximately 800 direct loans to SMEs and financial intermediaries, for a total of US$4.8 billion. An additional US$2.8 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.
Contact: Rodrigo Navas
Telephone: +1 (202) 623-3926 in Washington, D.C.