Singapore’s $275 billion state-owned investment fund made an undisclosed equity investment in Clinica SIM, a chain of low-cost health clinics in northeastern Brazil, Brazil Journal reports (translated).
The company started in 2007 and has built 15 clinics catering to the Northeast region’s low- and middle-income uninsured. (Across the country, 60% to 70% of Brazilians don’t have health insurance.) Clinica SIM expects to expand to 20 to 25 clinics this year.
Temasek doesn’t focus on Latin America — only 4% of its portfolio is invested there — however, growing middle income populations is one of fund’s investment themes.