This Project involves a seven-year, $3.375 million OPIC loan to Gamma Knife Ecuador to finance the acquistion of outstanding equity ownership, upgrade of equipment, and working capital for an existing brain cancer treatment facility and unique clinic named Gamma Knife Center Ecuador located in Guayaquil, Ecuador (the :Project:). The Borrower offers medical services to detect and treat certain types of brain tumors, arteriovenous malformations, and other brain dysfunctions using cutting edge technology, that is both extremely accurate and has above average therapeutic response, and highly-qualified and experienced medical staff. The Project’s total cost is expected to be $3.75 million, with the remaining financing coming from the investors in the form of equity. In 2009, a Leksell Gamma Knife Machine Model 4C was acquired by the Project from Elekta, which is the Swedish Company that owned the patent and developed new medical technologies, such as the non-invasive medical procedures that uses radioactive Cobalt-60. The first patient was succesfully treated in October 2011. Since 2011, the Borrower has treated more than 1,000 patients and intends to upgrade or replace their current machine and resources within one year. The new technology implemented through the project will be Leksell Gamma Knife Machine New Model Perfexion recently developed by Elekta for an estimated cost of $1.5 million available in the market.
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