Ospedal Grando, Cittadella della Salute

Project overview

The project was a public-private pilot partnership (PPP) between Veneto Region (in the northern Italy) and the Australian developer Lendlease. The objective of the project was to develop and manage the so called “Cittadella della Salute”, the new hospital in Treviso (a town in Veneto). The project will last 21 years and it was worth EUR 250 million and the construction of 1,000 bed hospital. Concerning the project financing, Lendlease with the advice of PlusValue, successfully stimulated 2 commercial banks to reduce the cost of capital, attracted institutional investors (European Investment Bank) and provided an invaluable opportunity for shareholders to participate in social infrastructure development. The result of this impact investing strategy for the Treviso hospital was a substantial financial savings due to reduced costs of capital. These financial savings had been used for a ‘Treviso Impact Facility’ (TIF), directly re-invested into the local community in Treviso. The pilot project has been referred as a success story for impact investing by the Vice-President of the European Commission for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, and the EIB Vice-President, Dario Scannapieco, and is listed as one of the 100 best practices worldwide by Growinclusive by the World Economic Forum.

Our added value

PlusValue provided international property development company, Lendlease, with a comprehensive, dynamic and integrated impact investing strategy for the financing of the Public-Private Partnership for the redevelopment of the €250m, 1,000 bed hospital in Treviso (Italy). PlusValue was also in charge of monitoring socio-economic impact achieved by the fund and scouting new projects to channel the investment.

Project Impact

€250 m, 1,000 bed hospital financed; “Ospedal Grando Impact Investing” Fund, a new social impact vehicle established to invest in social entrepreneurial initiatives relating to public health in the Treviso area and the Veneto Region, such as new e-health services.

 

Website of the project: http://ospedalgrando.com