IDB Invest has provided a $14.2 million in financing to Promedon Group, a leading medical devices company headquartered in Córdoba, Argentina with a strong presence across Latin America and Europe. The project will finance equipment for a new assembly facility in Brazil, supporting the commercialization of the company’s proprietary gastrointestinal endoscopy products. 

Additionally, the project will finance the acquisition of specialized instruments and equipment to help distribute Promedon’s own-brand sports medicine products in key Latin American markets. 

Through the financing, IDB Invest will contribute to propelling the development of cutting-edge medical products, instruments, and equipment, and its introduction across multiple markets, bolstering Promedon’s mission to deliver high-quality medical solutions. The funds will also support capital expenditures to enhance ongoing operations and address working capital needs to support the company’s growth strategy. 

The intersection between health and economic development is well-established, with healthier populations demonstrating higher participation and productivity in the labor market. The medical device industry plays a pivotal role in enhancing healthcare outcomes through advanced diagnostics, prevention, monitoring, and treatment, while also improving the quality of life for patients. 

Additionally, this initiative seeks to strengthen the region's capacity to produce and export high value-added medical devices, driving innovation, economic sustainability, and growth in the healthcare sector. 

In Latin America, the medical device market remains largely import-driven, yet countries like Argentina and Brazil demonstrate significant potential, supported by a growing domestic manufacturing base led primarily by micro, small and medium-sized enterprises (MSMEs). Promedon Group exemplifies this potential, specializing in the development and distribution of high-complexity medical devices. 

In addition to financing, IDB Invest will support Promedon Group to advance sound sustainability practices by encouraging the adoption of enhanced environmental and social (E&S) standards. This collaboration includes implementing initiatives, such as waste management, E&S risk and impact assessments, a corporate occupational and health safety program, and an overarching corporate environmental management strategy across its operations in Latin America. 

IDB Invest has also proposed a Corporate Governance Action Plan to strengthen Promedon Group's governance framework. 

This deal is expected to contribute to the following United Nations SDGs: Decent Work and Economic Growth (SDG 8), Industry, and Innovation & Infrastructure (SDG 9), and Partnerships for the Goals (SDG 17).

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website ww.idbinvest.org/en.                                                    

About Promedon

Promedon Group is a leading Medical Devices manufacturer and distributor with presence in Latin America and the EU, with headquarters in Córdoba, Argentina. The Group specializes in four areas: Urology (implants and endourology devices to perform minimally invasive treatments of own brand “Promedon Urology and Pelvic Floor”); Arthroscopy (medical arthroscopy technology for shoulder and knee treatments under the own brand “Fergus”); Gastrointestinal (Endoscopy solutions to perform extended visual field digestive endoscopies own brand under development); and Neurosurgery (implants, surgical instruments and medical equipment working with Integra and Codman). With cutting-edge technology and more than 400 scientists and professionals working at Promedon's industrial plants in Córdoba (Argentina) and Sorocaba (São Paulo, Brazil), the Group develop innovative products adaptable to a wide range of patients and their conditions. Promedon works hand in hand with every medical team, providing surgical support, continuous medical education, and a comprehensive portfolio of innovative solutions for various pathologies and specialties. With offices in Argentina, Brazil, Chile, Mexico, Spain and Germany, Promedon markets its products in over 60 countries, employing over 600 professionals.