Budapest-based International Investment Bank (IIB) announced that has become a creditor in the framework of the Schuldscheindarlehen (SSD) issuance of Swedish Medicover Group, thus financing the medical services provider’s expansion in Hungary, Romania and Slovakia.

The group will allocate the proceeds from the designated ten-year tranche for further technological modernisation 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 development bank first provided financing to the client for the development of medical facilities in Romania. The total volume of investment allocated by the IIB in support and development of this sector in its European member states through Medicover Group amounts to €40mn.

“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 programme 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.