€70 million EU financing to support new hospital building at Hilversum location.
New concept of care makes case for more compact facilities.
Tergooi hospital in Hilversum has signed a €70 million lending agreement with the European Investment Bank (EIB), making it only the second general hospital in The Netherlands to get such a loan from the Bank of the EU. The agreement is on favourable terms, including an attractive interest rate, and will go towards the construction of a new hospital building and a parking garage.
Together with financing from its own resources, Tergooi will invest a total of €362 million in the new hospital in Hilversum in the coming years. As of 2023, all acute, intensive and clinical care, currently spread between the hospital’s Blaricum and Hilversum locations, will be concentrated there.
David Voetelink, member of the Board of Tergooi, welcomes the agreement: “It has been a great collaboration with various parties. Apart from the EIB, ABN AMRO, ING and BNG bank, as well as the Dutch Healthcare guarantee fund, the Municipality of Hilversum has also offered maximum cooperation. And let’s not forget the staff at Tergooi. This financing allows Tergooi to complete the new construction plans according to its strategic choices: a compact hospital with maximum connection to the region.”
“I don’t think I need to underline the importance of good healthcare facilities in these critical times.” said EIB Vice-President Christian Thomsen. “The EIB has a long track record of financing hospitals in The Netherlands, starting with the UMCs and now also general hospitals, because our mission statement is that we are here to “improve people’s lives”. As far as that goes, this is a pretty direct way of doing that.”
More than just a new building
In Tergooi's vision, the most valuable care is provided close to the patient, making the hospital fully committed to the concept of 'care in the right place': if necessary, care will be provided in the (new) hospital, if possible outside of it, closer to the patient, in a regional medical centre or even at a patient’s home.
By making more use of digital consultations, closer cooperation with general practitioners and other care providers, as well as by working with largely standardized nursing wards and outpatient clinics, Tergooi can manage its operations with a more compact building.
In 2019, the EIB made nearly EUR 2.5 billion available for projects in the Netherlands, including for healthcare, SMEs and energy efficiency projects. Over the last five years, the EIB as made available some EUR 711 million to healthcare projects in the Netherlands.
Tergooi has two main hospital locations: in Hilversum and Blaricum, the Netherlands. The construction works for the new hospital of Tergooi in Hilversum are in full swing. In 2023 we can provide acute and intensive health care in a compact modern, professional, energy efficient new building. For less complex health care patients are welcomed in a separate building next to the hospital that will also open its doors in 2023. Our ambition: to build a modern hospital in a healing environment, with the flexibility to respond to developments in healthcare and technology.
The EIB and Banque des Territoires will each invest €100 million in an investment platform to finance the energy transition of bus fleets across France. Managed by Banque des Territoires, this platform will offer innovative financing to local and urban mobility authorities looking to green their bus fleets to reduce their climate impact. The Clean Buses Platform is part of Caisse des Dépôts’ recovery plan and environmental transition efforts. The EIB’s investment is guaranteed by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe.
On 11 January, the EIB issued a new EUR 1.5bn Sustainability Awareness Bond (SAB) due 15 May 2041. On the back of demand in excess of EUR 22.5bn (excl. JLM), the transaction was upsized from initial target size (EUR 1bn) and priced at mid-swaps less 7bp, 2bp tighter than initial guidance. The issue had a re-offer yield of -0.003%, offering a spread of 30.6bp over DBR 4.75% 07/04/40 and 6.3bp below FRTR 4.5% 25/04/41.