BRAINLAB SURGERY SOFTWARE DEVELOPMENT

Promoter – Financial Intermediary

BRAINLAB AG

Location

• Germany

Description

The project will finance the promoter's research and development (R&D) activities within software-based technology and hardware medical devices aiming to improve critical surgeries, radiosurgery treatments and operating room efficiency.

Additionality and Impact

The project concerns the promoter's Research Development and Innovation (RDI) activities in Europe in Surgery, Radiosurgery and as of recent, Digital Health - in particular directed at digitalisation within the operating room. By financing this project, the Bank will support a technologically leading globally operating European-based medtech company specialised in software and hardware directed at medical technology and digital solutions in Health.

This Project would further aid to accelerate adoption of digital technologies in the EU, related to R&D, healthcare and digital innovation while improving treatment outcomes. As such, through the financing of this Project aiming to facilitate increased investments in digital innovation the EIB is helping to bridge the digital gap between EU and US, e.g., and the digital divide within EU.

Overall, the financing through the EIB will complement other financing sources and improve its credit risk profile by extending the debt maturity profile. EIB's favourable customised terms are highly appreciated by the company. Therefore, the loan is expected to provide a positive signalling effect in the market and crowd in complementary financing sources.

Objectives

By financing this project, the EIB will support a technologically leading globally operating European AI-based Digital Health company specialised in software and hardware for medical technology, directed at medical solutions in Health.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 154 million

Environmental aspects

The project investments concern research and development activities carried out in existing facilities without changing their already authorized scope, and are not expected to have a significant environmental impact on the surroundings. The project activities neither fall under Annexes I nor II of the EU Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by Directive 2014/52/EU. The promoter complies with all relevant regulations and recommendations related to its business.

Procurement

The Promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity. Thus, it is not covered by the EU Public Procurement Directives. The Promoter's procurement procedures are in line with industry practice. The project would be mostly implemented by staff within the promoter's existing R&D organisation, so there will be limited procurement activity directly related to the project.

Status

Signed - 22/12/2022