Germitec and the European Investment Bank (EIB) have signed a €25 million agreement to finance the development and commercialisation of new medical products.
This agreement was made possible with the support of the InvestEU programme, which aims to trigger more than €372 billion in additional investment between 2021 and 2027.
The new products to be financed by this agreement will radically reduce cross-infection risks for patients by providing healthcare professionals with innovative UV-C-based high-level disinfection (HLD) technology and devices. The new technology will radically simplify the lives of healthcare professionals in terms of safety, time and liability.
This agreement comes under InvestEU's research and development policy (new effective and accessible healthcare products, including research, development, innovation and manufacturing of pharmaceuticals, medical devices, diagnostics and advanced therapy medicinal products). It will support the achievement of the European Union's research and development policy objective.
European Commissioner for Economy Paolo Gentiloni said: "Researching and developing innovative products requires sustained and significant investment. With the help of InvestEU, Europe can retain its position as a world-leader in the development of cutting-edge medical technologies by supporting agreements such as this one."
"We are thrilled to benefit from the support of the prestigious European Investment Bank. This financing is a strong recognition of the great potential of our UV-C technology. I am confident we will continue to expand our activities internationally and support healthcare professionals around the world on a daily basis to ensure the safety of their patients during ultrasound examinations," said CEO of Germitec Vincent Gardès.
"The EIB is pleased to be contributing to the development of Germitec and its innovative technology to prevent cross-infection risks in the disinfection of medical devices. This €25 million in financing demonstrates the European Union's focus on supporting innovation and promising technologies in the field of healthcare, an area that is vital for people's well-being," said EIB Vice-President Ambroise Fayolle.
Background information
InvestEU
The InvestEU programme provides the European Union with crucial long-term financing by mobilising significant public and private funds to support a sustainable recovery. It helps generate additional investments in line with key European priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises (SMEs). The InvestEU programme brings together a multitude of EU financial tools to support investment by making project financing simpler, more efficient and more flexible. The programme builds on the success of the previous Investment Plan for Europe, also known as the Juncker Plan (which invested more than €500 billion between 2015 and 2021). It consists of three elements: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through various financial partners, most notably the EIB. They will invest in projects using the EU budget guarantee of €26.2 billion to mobilise at least €372 billion of additional investment.
Germitec
Germitec is committed to providing healthcare professionals and patients with safe, simple and automated UV-C solutions for ultrasound probe disinfection, replacing chemistry with photons to radically simplify the lives of healthcare professionals in terms of safety, time and liability.
With 18 years of experience in the design and development of sustainable hospital hygiene solutions, Germitec is a market leader with a proven track record of product development and sales growth and strong prospects for expansion.
European Investment Bank
The European Investment Bank (EIB) is the European Union's long-term financing institution. Its shareholders are the 27 EU Member States. Its mission is to contribute to the integration, balanced development and economic and social cohesion of the European Union. It borrows large volumes of funds on the capital markets and lends them on very favourable terms to support projects furthering EU policy objectives.
The EIB is working to put the European Union at the forefront of the next wave of innovation, especially in the health sector. In response to the COVID-19 health crisis, it released more than €6 billion for investments in the health sector to support medical infrastructure, additional research activities, and the development of vaccines and treatments. As the EU climate bank, the EIB is one of the main providers of finance in the green transition towards a more sustainable, low-carbon growth model.
