IIB finances Medicover’s expansion in Romania and the region

Budapest-based International Investment Bank (IIB) has become a creditor in the framework of Schuldscheindarlehen (SSD) issuance of the Swedish Medicover Group.

The Group will allocate the proceeds from the designated ten-year tranche for further technological modernization and expansion of its operations in the CEE region, primarily in three of IIB member states: Hungary, Romania and Slovakia. In these countries, Medicover currently operates more than 30 clinics, 15 diagnostics labs and three major hospitals, providing high tech healthcare services to the public.

IIB and Medicover Group have been collaborating since 2019, when the Bank first offered financing to the client for the development of medical facilities in Romania.

The total volume of investment allocated by the International Investment Bank to support and develop this key sector in its European member states through Medicover Group amounts to EUR 40 mln.

“Medicover Group, alongside state health care systems, plays a vital role in protecting and educating the population regarding the virus, as well as implementing a large-scale program of rapid and reliable testing. By extending financing to our client, we ensure that it continues to carry out this important work on the territories of our member states," commented Nikolay Kosov, Chairperson of the IIB Management Board.

(Photo source: Facebook/Medicover Romania)