(Alliance News) - Medica Spa announced Wednesday that it has signed an investment contract with SIMEST the company of the Cassa Depositi e Prestiti Spa group for the internationalization of Italian companies aimed at entering the share capital of Medica USA Inc, currently wholly owned by Medica Spa.

The EUR1.9 million investment by SIMEST in Medica's international expansion project consists of the acquisition of a 30 percent stake in Medica USA - for an amount of about EUR800,000 - and the signing of an interest-bearing shareholders' loan agreement for the remaining EUR1.1 million or so.

The transaction - which also benefited from the intervention of the Venture Capital Fund, managed by SIMEST in agreement with the Ministry of Foreign Affairs and International Cooperation - confirms SIMEST's commitment to supporting the international growth of Italian companies of excellence.

Luciano Fecondini president of Medica USA and Medica Spa commented, "The entry of SIMEST in the share capital of Medica USA Inc allows Medica to develop the planned investment plan in the U.S. company in the broader project of geographic expansion of the group, corroborated by the asset purchase agreement to produce blood filters and water filters finalized with Evoqua Water Technologies on April 1, 2023. We are proud of the trust SIMEST has placed in our project and confident of its valuable support."

On Wednesday, Medica closed flat at EUR22.80 per share.

By Claudia Cavaliere, Alliance News reporter

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