Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 35,000,000
Countries
Sector(s)
Italy : € 35,000,000
Services : € 14,350,000
Industry : € 20,650,000
Signature date(s)
19/12/2024 : € 14,350,000
19/12/2024 : € 20,650,000
Link to source

Summary sheet

Release date
6 November 2024
Status
Reference
Signed | 19/12/2024
20240118
Project name
Promoter - financial intermediary
GVM ADVANCED MEDICAL DEVICES RDI
GRUPPO VILLA MARIA SPA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 35 million
EUR 82 million
Location
Sector(s)
Description
Objectives

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.

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.

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.

Environmental aspects
Procurement

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.

The EIB will require that all project contracts are procured in accordance with the applicable EU procurement legislation.

Milestone
Under appraisal
Approved
Signed
5 December 2024
19 December 2024
Related projects
Link to source

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).

Documents

Environmental and Social Data Sheet (ESDS) - GVM ADVANCED MEDICAL DEVICES RDI
Publication Date
21 Dec 2024
Document language
Main Topic
Lending
Document Number
235373810
Document Focus
Environmental Information
Project Number
20240118
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

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.

Related publications