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Temasek Builds Stake in Brazil’s Clinica SiM

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Singapore’s Temasek Holdings has reportedly bought a stake in Brazilian clinic operator Clinica SiM as part of a transaction closed late in the fourth quarter of 2017. The size and terms of the deal have been kept confidential. Previous investors in Clinica SiM include a number of local financiers, including Rodrigo Calvo Galindo of Kroton Educacional S.A., Devry Brasil’s Carlos Filgueiras, and venture capital firm Monashees. SiM stands for Serviço de Inclusão à Medicina, or “Inclusion Service to Medicine”.

Affordable Healthcare on Demand

Established in 2007 by Denis Cruz, Clinica SiM is a publicly-owned company that aims to provide the some 150 million Brazilians without private health insurance access to affordable primary and dental care through its network of 15 private clinics focused primarily in the northeastern states of Ceará and Pernambuco. The company’s strategically located anchor clinics provide patients access to low-cost consultations in 25 specialties – including cardiology, gastroenterology, and neurology – while surrounding satellite clinics focus on more basic services such as dentistry and family health. Clinica SiM’s out-of-pocket, insurance-free revenue model allows it to streamline costs by retaining only necessary medical and administrative staff.

Changing the Healthcare Model in Brazil

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Saudi Arabia Sends Second Installment of Aid to Pakistan

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On December 14, 2018, Pakistan received its second installment of the US$ 3 billion in aid promised from Saudi Arabia on October 23, 2018. The US$ 1 billion given on December 14th boosted the foreign reserves of the State Bank of Pakistan, which went from US$ 7.2 billion to US$ 8.2 billion. The first installment was given on November 23, 2018. The last installment is expected to occur in January 2019.

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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