COFIDES has granted a €1.2 million loan to Devicare, S.L., a Spanish pharmaceutical company specializing in urological health solutions. The financing, provided through the Fund for Foreign Investment Operations of Small and Medium-Sized Enterprises (FONPYME), aims to support the acquisition of IP6 International, Inc., a U.S.-based manufacturer of recognized nutritional products, including the IP6 Gold® brand.
This transaction marks a strategic milestone for Devicare, representing its first international acquisition and its entry into the United States, considered the world’s largest and most dynamic pharmaceutical and nutraceutical market. With this financing, Devicare will be able to complete the acquisition of IP6 International and lay the groundwork for broader growth across North America.
The COFIDES loan will help fund part of the investment required for the acquisition, facilitating Devicare’s establishment in a key market and strengthening its global competitiveness. The company expects this expansion to boost the commercial development of its growing product portfolio in the United States.
Rosendo Garganta, CEO of Devicare, emphasized that “COFIDES’ support has been essential in enabling this strategic step in our international expansion. This financing not only allows us to complete the acquisition of IP6 International, but also reinforces our presence in the U.S. market and advances the global reach of our urological health solutions.”
Commenting on the operation, Miguel Ángel Ladero, COFIDES CIO, noted that this operation reflects COFIDES’ commitment to supporting the international growth of Spanish SMEs and strengthening their position in highly competitive markets. Devicare’s entry into the United States demonstrates the ability of our companies to innovate, diversify, and compete globally. At COFIDES, we will continue to accompany them throughout this process.”
ABOUT COFIDES
COFIDES is a state-owned trading company that manages financial funds from the Spanish State, as well as its own resources and those of third-party institutions with various objectives: the internationalization of the Spanish economy, the attraction of foreign investment into strategic sectors in Spain, the promotion of the impact economy in Spain, and the contribution to the development of the countries in which it invests. In addition to the State, which holds a majority position, other shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
ABOUT DEVICARE
Devicare, S.L., headquartered in Barcelona, is a pharmaceutical company dedicated to developing clinically proven solutions for urological health. With products available in more than 60 countries and anchored by a solid scientific and intellectual property base, Devicare’s mission is to transform how urinary diseases are treated and to improve the quality of life of the patients affected.
ABOUT IP6 INTERNATIONAL, INC.
IP6 International, Inc., based in Melbourne, Florida (USA), is the producer of the IP6 Gold® and Red Yeast Rice Gold® brands, recognized for their high standards of purity and quality. Founded in 2002, the company maintains a strong distribution network across the United States and has built long-standing trust among healthcare professionals and consumers
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