Release date: 6 November 2024
Promoter – Financial Intermediary
GRUPPO VILLA MARIA SPALocation
Description
The project supports the promoter's investments in (i) research, development and manufacturing capabilities for medical devices in the cardiovascular and respiratory therapeutic areas, (ii) clinical and translational research for cardiovascular and metabolic diseases and (iii) digitalisation of its healthcare infrastructures across Europe over the period 2024-2027.
Additionality and Impact
The financing of this Project supports the InvestEU objectives of financing Research, Development and Innovation (RDI) as well as Digital Technologies and Services.
RDI and digitalisation generate significant positive knowledge and technology externalities, through the creation of innovative processes, products and services and through skills development and upgrading. Moreover, it supports the increase of manufacturing capacity of medical devices in the EU. The financing is expected to benefit from the InvestEU guarantee in the light of the inherently riskier nature of the investments to be financed.
The EIB will support the Promoter, a well-established healthcare company, to execute its investment programme encompassing (i) research, development and manufacturing of medical devices, (ii) clinical and translational research and (iii) digitalisation of the provision of healthcare services.
By supporting the Promoter, the EIB enables the generation of European scientific knowledge and acumen, whilst preserving highly skilled employment opportunities, and it contributes to the improvement associated to the provision of healthcare services across Europe.
The proposed operation satisfactorily meets the funding needs of the promoter providing additional flexibility in terms of longer tenors and longer grace periods for an unsecured loan (particularly given the current tighter liquidity in the banking sector) and lower cost of funding. The EIB funding is expected to improve the promoter financial structure by spreading out its repayment profile, reducing the cost of newly incurred indebtedness as well as diversifying its funding base.
The Project would not have been carried out, or not to the same extent, by the EIB without the InvestEU support.
Objectives
i) The operation supports both the development of medical devices, carried out by a subsidiary of the Borrower, as well as early-stage, clinical and translational research conducted by the Promoter across its network of hospitals and healthcare facilities. ii) It will also finance the construction of a new manufacturing facility for cardio-pulmonary medical devices, as an extension of the Promoter's already existing production site, to increase its industrial footprint and know-how. iii) Lastly, the EIB will support digital initiatives to be undertaken by the Promoter across its extensive network of healthcare facilities and operations in the period 2024-2027, to increase digitalisation in the European healthcare sector.
Sector(s)
- Industry - Manufacturing
- Services - Information and communication
- Services - Professional, scientific and technical activities
Proposed EIB finance (Approximate amount)
EUR 35 million
Total cost (Approximate amount)
EUR 82 million
Environmental aspects
The project concerns investments in R&D and digitalisation, for which significant environmental and social effects are not expected. Moreover, the Project supports the construction of a manufacturing facility, as an extension to the existing production plant of the Promoter, in relation to the development and manufacturing of medical devices. According to Annex 3 of Italian law No. 152/2006 (and its subsequent amendments) transposing the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by 2014/52/EU, the construction of the new manufacturing facility for medical devices is not subject to an EIA procedure.
Procurement
The EIB will require that all project contracts are procured in accordance with the applicable EU procurement legislation.
Status
Signed - 19/12/2024
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).