EIB LENDS EUR 100 MILLION FOR INVESTMENT IN RESEARCH AND INNOVATION BY BRACCO IMAGING

Rome, Italy , 07/24/2014

The European Investment Bank (EIB) is lending EUR 100 million towards the Bracco Group’s investment in research and development (R&D). The operation was signed today in Rome by EIB Vice-President Dario Scannapieco and Bracco Group CEO Diana Bracco.

The purpose of the EIB’s line of credit, which has a term of seven years, is to support the Bracco Group’s research activity in its core business of contrast agents for diagnostic imaging. Contrast agents are pharmaceutical products that enhance the visibility of organs and bodily functions using various technologies (X-rays, computed tomography, magnetic resonance, ultrasound) and are employed in high profile medical procedures to diagnose and treat important pathologies.

“Promoting research is one of the EIB’s key activities across all productive sectors. We are particularly proud of this operation as it enables the EU bank to support the work of scientists whose concrete applications serve to improve the instruments that doctors can use to diagnose and cure often serious illnesses”, remarked Mr Scannapieco.

“This financing is very important to us”, stated Diana Bracco, “and it recognises the quality of our company’s research project pipeline. Each year, Bracco invests around 10% of turnover in R&D activities, confirming our strong commitment to innovation and the continuing improvement of what we offer the scientific community and patients”.


Background information

EIB
The European Investment Bank supports the European Union’s strategic and policy objectives by providing long-term loans for economically viable projects. The EIB’s shareholders are the EU’s 28 Member States. Italy, together with France, Germany and United Kingdom, is one of the four main shareholders (with each holding 16.2% of the capital).

The Bracco Group
This integrated multinational group has been operating in the healthcare sector since 1927. Overall, it has some 3 300 employees and a consolidated turnover of nearly EUR 1.2 billion, of which around 75% on foreign markets. The Group is a leader worldwide in its core business of diagnostic imaging, providing contrast agents and advanced medical devices for key diagnostic methods including X-ray imaging, computed tomography, magnetic resonance, ultrasound and nuclear medicine. The Group operates in over 100 countries through subsidiaries, joint ventures, licensing and distribution agreements.