A seven-year EBRD loan will help a medium-sized Belarusian company, which is one of the world’s top 10 producers of operating tables, more than double its output. 85 per cent of the group’s operating tables are exported to over 20 countries.
The Bank has agreed to lend up to EUR 4.16 million to the Medin Group so that it can buy the equipment needed to process its own metal sheeting, which is vital for manufacturing operating tables, which are the company’s main product.
The long-term loan will enable the Group to meet a growing demand for operating tables, driven mainly by the modernisation of the state-run health systems in Russia, Belarus, Kazakhstan and Ukraine as well as the expansion of private medical care.
“We are very impressed by the quality of Medin Group’s management and the professionalism of its engineers, as well as by what Belarus’s private sector has managed to achieve on the world market for medical equipment,” said Francis Delaey, the head of the EBRD representative office in Belarus.
“We think the company shows great potential and participation in this project will enable the EBRD to support a Belarus company in its efforts to provide clients with up to date medical technology,” Mr Delaey added.
Operating tables consist of up to 1,000 parts, each of which must be certified because of high safety requirements. RECIF Technolognies Bel LLc, which is part of the Medin Group, was the first firm in Belarus to obtain EN9100 certification, a prestigious management standard for the aviation industry.
“Investing in the latest equipment and technology is something that few Belarus firms can afford because receiving foreign currency loans has become very complicated while local currency loans are too expensive,” said Anderi Yeliseev, chairman of the Medin Group.
“We are very glad that thanks to cooperation with the EBRD, we now have that possibility. During our negotiations the Bank showed considerable flexibility and readiness to meet clients half-way,” Mr. Yeliseev added.
The Medin Group, which was established in 2000, employs around 400 staff. The Group also produces gynaecological chairs and cabinets for hospitals and pharmacies.