Euromedic plans expansion

Central and eastern European healthcare provider, Euromedic has secured $13 million from the International Finance Corporation (IFC), the private sector arm of the World Bank. The funding is part of a $33 million expansion plan to help Euromedic expand its existing network of diagnostic imaging centres and hemodialysis centres in the region.

IFC’s commitment to the project fits in with the corporation’s global efforts to strengthen healthcare services in developing countries and emerging markets through strategic private sector investments. The group’s role in the Euromedic investment will be to provide long-term financing, which is difficult to obtain on reasonable terms for healthcare projects in central and eastern Europe.

Existing investors in Euromedic include GE Equity, the private equity arm of GE Capital, Dresdner Kleinwort Benson Emerging Europe, a specialist central European private equity fund advised by Dresdner Kleinwort Capital, Global Environmental fund, an international investment firm, and private investors led by the management of the company.

Budapest-based Euromedic currently has seven diagnostic imaging centres in Hungary and three diagnostic centres in Poland. The availability of diagnostic technology is an important component of healthcare. The use of diagnostic imaging equipment has grown rapidly worldwide because it allows physicians to quickly and accurately diagnose a wide variety of diseases and injuries without exploratory surgery or other invasive procedures, which are usually more expensive, carry more risk and are more debilitating for patients.

Through expansion and further development, Euromedic will speed the delivery of high quality imaging that will enable faster and more accurate treatment of patients.