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The project supports the development, design and manufacturing of medical imaging systems. The financing includes new generation design, software development including AI modules, and modernization of manufacturing lines.
The Project relates to the Borrower's expenditures in Research, Development and Innovation for the improvement of its portfolio of medical imaging systems. The focus of the Project is the development of next generation products in Radiographic Fluoroscopy, bone densitometry, Ambulatory Radiography Equipment (mobiles), Mobile operating room solutions (C-arms), and software to enable AI medical imaging interpretation.
The Project is aligned with the InvestEU objective of promoting research, development and innovation. The purpose of the loan is to provide direct equity-type financing to an innovative French medical device company that specialises in the development, design and manufacture of medical imaging systems. By supporting the Promoter, the EIB enables the generation of European scientific knowledge and know-how while preserving and expanding highly skilled employment opportunities in Europe.
Currently, the Company has limited access to either non-dilutive or to long-term debt funding sources. The financing structure is adjusted to the investment needs of the Company, with a long tenor and a mix of cash and deferred interest, minimising cash outflows. By contributing to the cash runway, EIB financing is expected to crowd-in third party investors and allow the company to accelerate its development. The project would not have been carried out to the same extent by the EIB without InvestEU support.
The specific RDI activities included in the project are expected to be performed in existing facilities without changing their already authorised scope. Therefore, the project activities would not require an Environmental Impact Assessment (EIA) under the Directive 2014/52/EU amending the Directive 2011/52/EU. Full environmental details will be verified during appraisal.
The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus, it is generally not covered by EU directives on procurement. However, the Bank will require that all project contracts are procured in accordance with the applicable EU procurement legislation. The Bank's services will verify details during the project due diligence.