Joint venture to build first stem cell treatment center in Bucharest with EUR 50 mln

Concorde Group will invest EUR 50 million in a stem cell treatment center in Romania, in Adunatii Copaceni, 8 kilometers from Bucharest, which will be operated by the US company Healthcare of Today, through SK3. Concorde and Healthcare of Today have formed a join venture to build this first treatment center based on the stem cell technology in Romania, which will also be accompanied by a private clinic. The research center will cover 20,000 sqm and the treatment facilities will cover 45,000 sqm. Group Concorde Developments is a real estate developer. The group also include Concordia Asset Management, Concorde Capital and Concorde New Energy. There are several stem cell banks in Romania but there is no treatment center based on this technology.