Rizk Ventures Colombia (RVC), an affiliate of Rizk Ventures, and Goldman Sachs have formed a joint venture to invest in sale-leaseback transactions in the Colombian hospital market.
The joint venture announced today the execution of the first sale-leaseback transaction of the hospital known as Instituto del Corazon Floridablanca (ICF) in Bucaramanga, which was purchased from Fundación Cardiovascular de Colombia (“FCV”).
"We are very excited to announce this joint venture with Goldman Sachs and look forward to building a substantial hospital focused real estate portfolio in Colombia,” says Thomas Rizk, Rizk Ventures’ Co-Founder, Chairman, and Chief Executive Officer. "Colombia has a significant shortage of hospital beds, with many leading hospitals seeking expansion capital. This has created an opportunity to develop a robust pipeline of sale-leaseback opportunities.”
Established in 1986, FCV has grown to become the largest private sector health care network in the country. FCV offers tertiary level services at hospitals as well as telemedicine, training, manufacturing of hospital products, assembly of bioengineering equipment, and hospital management software among other areas. As of 2013, the company employed 1,400 people.
Completed in 1997, ICF is a 197 bed hospital located in Bucaramanga. ICF was the first hospital in Colombia to receive international accreditation for meeting various quality and safety standards by the Joint Commission International. In 2014, Latin American business magazine, América Economia, ranked ICF as the #1 hospital in Colombia and the #4 hospital in Latin America.
Rizk Ventures Colombia is a wholly owned affiliate of Rizk Ventures, LLC led by Rizk Ventures Managing Partners, Geoff Rizk and Klaus Lederer. This team has substantial experience and relationships in connection with investment opportunities in the Colombian healthcare market.
