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Suomen Hoivatilat Plc

Stock exchange release 23 April 3:00 pm EET

Suomen Hoivatilat Plc to receive EUR 50 million financing from the European Investment Bank

The European Investment Bank (EIB) and Finnish care facilities provider Hoivatilat have agreed on EUR 50 million long-term financing. The first loan of EUR 30 million has now been signed which will support Hoivatilat's investment initiatives on new care facilities. At project completion it is expected that a total of nearly 2700 additional care places would be available across Finland.

Vice-President Alexander Stubb, responsible for EIB-lending in Northern Europe, said: "Hoivatilat plays an important enabling role in the Finnish care sector. With an ageing population, hospitals and care service providers across the EU need to gear up for the future of healthcare. I am proud that the Bank can support this particular project, that enables producing new care facilities. I am positive that we will see further EIB support for the Finnish care sector soon."

Jussi Karjula, CEO of Hoivatilat Plc, added: "Hoivatilat is a fast-growing company, and we are very happy to start this cooperation with EIB. There is currently a strong demand for new nursing homes and day care facilities in Finland and this EIP financing together with funding from commercial banks enables investments worth EUR 100 million."

Finnish healthcare remains a priority for the European Investment Bank, as shown by over EUR 1 billion of total support over the las five years. Apart from medically focused mid-caps, support was made available to the University Hospital of Oulu, the Central Hospital of Mikkeli and the Espoo rehabilitation hospital, to name but a few.

Background information:
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2017, the Bank made available in excess of EUR 1.3Bn in loans for Finnish projects.

Suomen Hoivatilat Plc, established in 2008, is a Finnish service company specialised in producing, developing, owning and leasing out nursing homes, day care centres, schools and service communities. The company designs, finances and develops properties as turn-key projects for service companies and municipalities.

Press contact:

EIB: Tim Smit, +352 691 286423, t.smit@eib.org - Twitter 

Hoivatilat: Jussi Karjula, +358 40 773 4054, jussi.karjula@hoivatilat.fi Twitter

Suomen Hoivatilat in brief:

Suomen Hoivatilat specialises in producing, developing, owning and leasing out daycare centre and nursing home premises, service blocks and schools. Hoivatilat was established in 2008 and cooperates with around 50 Finnish municipalities. It has started over 120 real estate projects throughout Finland. The company was listed on Nasdaq OMX Helsinki on 1 March 2017.