COFIDES will support the growth of the pharmaceutical company Procare Health in the Italian market. Through two loans of €394,000 and €655,000 from the Fund for Foreign Investment Operations of Small and Medium-Sized Enterprises (FONPYME), COFIDES will provide financing for the launch of a wholly owned subsidiary and the acquisition of permanent safety stock, once the subsidiary is fully operational.
The Catalan company—focused on the development and commercialization of products made from natural-origin ingredients aimed at women’s health and wellbeing—takes a new strategic step in its international expansion after several years of operating in Italy through a distributor.
Procare Health has developed a diversified product portfolio to address common conditions such as infertility, vaginal infections, cervical lesions caused by human papillomavirus (HPV), and osteoarthritis, reaching more than 75 countries. The company allocates up to 25% of its budget to R&D and collaborates with various international medical and pharmaceutical companies and institutions.
Miguel Ángel Ladero, Corporate Director of the Investments Department at COFIDES, highlighted that “this financing contributes to strengthening the successful collaboration that COFIDES began with Procare in 2019, when we supported the company in its entry into France during the first phase of its internationalization. This case is a clear example of how innovation and specialization can be decisive factors in boosting the competitiveness and development of Spanish companies in foreign markets.”
Yann Gaslain, CEO of Procare Health, stated that “the establishment of a wholly owned subsidiary in Italy represents a highly strategic territorial expansion for Procare Health in Europe and consolidates our presence in more than five European countries, including France, Spain, Portugal and the United Kingdom. In the context of the development of Papilocare® as an innovative treatment for HPV, this investment will help support new clinical research projects in Italy, with the aim of continuing to build solid scientific evidence on the efficacy of Papilocare® in the fight against human papillomavirus. This step strengthens our commitment to women’s health and to the international expansion of truly innovative solutions.”
COFIDES is a state-owned company that manages State financial instruments, as well as its own resources and funds from third-party institutions, with several objectives: supporting the internationalization of the Spanish economy, attracting foreign investment to strategic sectors in Spain, promoting the impact economy in Spain, and contributing to the development of the countries in which it invests. In addition to the State, which holds a majority stake, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF–Development Bank of Latin America.
cloud technology axon
Addleshaw Goddard (AG), the London-headquartered international law fir...
