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Signature(s)

Amount
€ 30,000,000
Countries
Sector(s)
Israel : € 3,333,000
Austria : € 3,333,375
United Kingdom : € 3,333,375
Germany : € 3,333,375
The Netherlands : € 3,333,375
Sweden : € 3,333,375
Hungary : € 3,333,375
France : € 3,333,375
Italy : € 3,333,375
Industry : € 30,000,000
Signature date(s)
25/11/2008 : € 3,333,000
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
25/11/2008 : € 3,333,375
Link to source
Data sheet
Other links
Summary sheet

Summary sheet

Release date
21 May 2008
Status
Reference
Signed | 25/11/2008
20080008
Project name
Promoter - financial intermediary
Medinvest (RSFF)
Medinvest
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 30 million
EUR 230 million
Description
Objectives

The operation concerns RDI activities in the field of medical devices/technologies. The investment includes costs related to R&D, clinical trials, regulatory approval and pre-launch marketing of new medical devices. The devices are developed in separate, offshore legal entities that are majority-owned or otherwise controlled by the promoter, who is also actively involved in the strategic management and supervision of the companies. The medical devices / technologies are aimed at the treatment of different diseases in the fields of cardiovascular, stroke rehabilitation and diabetes as well as nuclear imaging and cryopreservation technology (e.g. freeze-drying of cells).

Aging population and the increase of incidences of certain major disease indications such as cardiovascular diseases, cancer, diabetes and obesity all will further lead to an increased demand for innovative products. All products being developed by the portfolio companies would potentially address a medical unmet need and would improve the quality of life of patients.

Environmental aspects
Procurement

The R&D activities encompassed within this project will not materially change current R&D practices and will be carried out within existing facilities, mostly in Israel and Europe making use of existing laboratories, pilot plants, clinical centers etc, thus not requiring an EIA according to the EU Directive 97/11 as amended by Directive 2003/35. Compliance of R&D activities with relevant EU and local environmental legislation as well as full environmental details will be verified during appraisal.

The promoter’s portfolio companies are private companies not operating in the utilities sector, and are thus not covered by EU Directives on procurement. However, the nature of the procurement procedures will be verified during appraisal and checked for each company in the portfolio.

Link to source
Summary sheet
Other links

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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