Hammond Hanlon Camp LLC Advises Rizk Ventures on Colombia, South America Hospital Acquisition
posted on March 17, 2016
NEW YORK — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive financial advisor to Rizk Ventures Colombia (“Rizk”), a New York-based private investment firm, on the structure of a joint venture to acquire the Instituto del Corazon Floridablanca hospital (“ICF”) located in Bucaramanga, Colombia, from Fundación Cardiovascular de Colombia (“FCV”).
H2C was engaged by Rizk to identify a capital partner, structure a joint venture (“JV”) and assist the JV in the acquisition and development of a portfolio of acute-care hospital facilities located throughout Colombia, South America. H2C conducted an extensive marketing effort, which resulted in the selection of Goldman Sachs as the partner for the transaction. H2C advised Rizk in structuring the terms of the JV agreement and the sale/leaseback transaction with FCV.
“H2C was very pleased to have the opportunity to assist Rizk Ventures with the capitalization of this exciting international investment and build upon the long-standing relationship between our firms,” said Michael B. Hammond, Principal of H2C. Email Michael
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. The hospital will continue to be operated by FCV, a non-profit healthcare system founded in 1986 and one of the ten largest hospital operators in Latin America with various locations throughout Colombia and a partnership with the University of Pittsburgh.
The acquisition in Bucaramanga is the first of a number of potential acquisitions and developments being evaluated for investment by the JV over the next 12 to 18 months.
“With only 1.5 hospital beds per 1,000 people in Colombia today, hospital development and expansion is expected to increase over the next several years,” said, Jay Miele, Managing Director of H2C. “Rizk Ventures Colombia represents a qualified and experienced sponsor which, when combined with Goldman Sachs, creates a formidable vehicle for growth in the Colombian hospital sector.” Email Jay
“We chose H2C to advise us on this transaction because of the firm’s focus on healthcare and depth of experience in real estate,” said Klaus Lederer, Managing Partner of Rizk Ventures. “We are extremely happy with the new venture they facilitated for us, which is poised for significant near-term growth,” commented Geoff Rizk, Managing Partner of Rizk Ventures.
ABOUT RIZK VENTURES
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. Rizk Ventures, LLC is a privately-held investment firm based in New York with a focus on investments in the real estate, private equity, venture capital and special opportunities. Rizk Ventures was founded by Thomas A. Rizk and Linda Rizk to facilitate their family’s business investments. The Rizk family business has been active in the following five major sectors: healthcare, technology, real estate, energy, and education.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers & acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, go to h2c.com.
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"We chose H2C to advise us on this transaction because of the firm’s focus on healthcare and depth of experience in real estate.”
- Klaus Lederer
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San Diego, CA 92121
"We are extremely happy with the new venture [H2C] facilitated for us, which is poised for significant near-term growth.”
- Geoff Rizk