Early Warning System

Countries

Italy

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Investment Bank (EIB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 19, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

GRUPPO VILLA MARIA SPA

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Education and Health
Industry and Trade

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 36.28 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 35
Converted using 2024-12-19 exchange rate.

Project Cost (USD)

$ 84.99 million

Primary Source

Original disclosure @ EIB website

Updated in EWS Apr 23, 2025

Disclosed by Bank Nov 6, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project supports the promoter's investments in (i) research, development and manufacturing capabilities for medical devices in the cardiovascular and respiratory therapeutic areas, (ii) clinical and translational research for cardiovascular and metabolic diseases and (iii) digitalisation of its healthcare infrastructures across Europe over the period 2024-2027.

i) The operation supports both the development of medical devices, carried out by a subsidiary of the Borrower, as well as early-stage, clinical and translational research conducted by the Promoter across its network of hospitals and healthcare facilities.

ii) It will also finance the construction of a new manufacturing facility for cardio-pulmonary medical devices, as an extension of the Promoter's already existing production site, to increase its industrial footprint and know-how.

iii) Lastly, the EIB will support digital initiatives to be undertaken by the Promoter across its extensive network of healthcare facilities and operations in the period 2024-2027, to increase digitalisation in the European healthcare sector.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project concerns investments in R&D and digitalisation, for which significant environmental and social effects are not expected. Moreover, the Project supports the construction of a manufacturing facility, as an extension to the existing production plant of the Promoter, in relation to the development and manufacturing of medical devices. According to Annex 3 of Italian law No. 152/2006 (and its subsequent amendments) transposing the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by 2014/52/EU, the construction of the new manufacturing facility for medical devices is not subject to an EIA procedure.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Investment Bank (EIB)

The financing is backed by InvestEU, the European Union’s investment programme.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The GVM group was founded and is led by Ettore Sansavini. It operates in the health, research, biomedical and thermal care sectors, with a particular focus on specialist care, medical prevention and promoting well-being and quality of life. At the heart of GVM is their integrated network of 29 hospitals – many of which are highly specialised – four health centres and three care homes spread over 11 regions in Italy. These regions are: Piedmont, Lombardy, Liguria, Veneto, Emilia-Romagna, Tuscany, Lazio, Puglia, Marche, Campania and Sicily. GVM also operates in other countries, with 15 hospitals in France, Poland, Albania, Ukraine and Kosovo. GVM spa is headquartered in Lugo, in the province of Ravenna.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	GVM Care & Research S.p.A.	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact: Lorenzo Squintani
Email: l.squintani@eib.org
Phone: +352437982528

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces