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    Reference: 20220873
    Release date: 4 October 2023

    Promoter – Financial Intermediary

    AMPLIFON SPA

    Location

    Description

    The project will finance the promoter's investments in innovations, digitalisation, advanced skills and technologies in hearing care.

    Additionality and Impact

    The Project concerns innovations in hearing care, particularly around digital health solutions to provide the best hearing care. The Company provides hearing tests, help selecting and fitting the appropriate device and patient/caregiver support through their retail physical locations, call centres, as well as via digital solutions. The products and services developed from the Project will improve social inclusion of people suffering from hearing impairment, while lowering risk of injury and possibly postponing dementia onset. Thus, the social value of the project is considered to be positive and over and above the financial return.

    The Borrower will benefit from the access to stable and long-term funding and additional flexibility in terms of availability period, number of drawdowns and competitive pricing. Furthermore, additional contribution stems from a diversification of Amplifon's funding sources, as well as a positive signalling effects and crowding-in of other financiers.

    Objectives

    The aim is to improve hearing care products and services through innovation and digitalisation.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 350 million

    Total cost (Approximate amount)

    EUR 709 million

    Environmental aspects

    The innovation and digitalisation activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An Environmental Impact Assessment (EIA) is therefore not needed as per the EIA Directive 2011/92/EU amended by Directive 2014/52/EU. The full environmental details will however be investigated by the Bank's services during the project due diligence.

    Procurement

    The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.

    Status

    Signed - 14/07/2023

    Milestone
    Under appraisal
    Approved
    Signed
    12 July 2023
    14 July 2023

    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).

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