Sorin Group: €100 Million Loan from the European Investment Bank to Fund Research & Development Projects in Italy and France

  Sorin Group: €100 Million Loan from the European Investment Bank to Fund
  Research & Development Projects in Italy and France

   The financing confirms EIB confidence in Sorin’s R&D investments in the
                           cardiovascular industry

Business Wire

MILAN -- May 7, 2014

Sorin Group (MIL:SRN) (Reuters Code: SORN.MI), a global medical device company
and a leader in the treatment of cardiovascular diseases, announced today the
finalization of a €100 million loan from the European Investment Bank (EIB).

The EIB facility will fund research and development projects both in Italy and
France related to the development of new products and products improvements in
Cardiac Surgery, Cardiac Rhythm Management and New Ventures (therapeutic
solutions for the treatment of heart failure and mitral valve regurgitation).
The projects cover the entire development from pre-clinical studies to
clinical trials for the 2014-2016 period. The loan represents approximately
one third of Sorin’s planned investment expenditure in Italy and France during
the 2014-2016 period. In 2013 Sorin Group dedicated over 10% of its sales to
R&D, with approximately 15% of its personnel working in R&D centers in Italy,
France, Germany and North America.

The 7-year loan has a pre-payment grace period of up to 12 months and bears
economic conditions which are competitive with the market benchmark. This
facility follows a first loan obtained from EIB in 2007, a 7-year facility due
June 2014, used to finance Sorin’s research and development activities during
the period 2007-2009.

“Sorin Group is committed to continuous innovation and, thanks to EIB’s
support, our commitment is to continue to provide patients and healthcare
professionals worldwide with cutting-edge innovative therapeutic solutions,”
said André-Michel Ballester, CEO of Sorin Group. “This facility, which follows
EIB 7-year loan due June 2014, is a further sign of EIB confidence in Sorin’s
R&D investments in the cardiovascular industry.”

“Lending for research and development is one of the priority areas of
intervention of the European Union Bank’s business,” said Dario Scannapieco,
Vice President of European Investment Bank. “We are therefore very pleased
about this second transaction with Sorin Group, a global device company with
over 40 years of excellence in Research and Development”.

About Sorin Group

Sorin Group (Reuters Code: SORN.MI), is a global medical device company and a
leader in the treatment of cardiovascular diseases. The Company develops,
manufactures and markets medical technologies for cardiac surgery and for the
treatment of cardiac rhythm disorders. With 3,750 employees worldwide, the
Company focuses on two major therapeutic areas: Cardiac Surgery
(cardiopulmonary products for open heart surgery and heart valve repair or
replacement products) and Cardiac Rhythm Management (pacemakers,
defibrillators, cardiac resynchronization devices). Every year, over one
million patients are treated with Sorin Group devices in more than 80
countries.

For more information, please refer to www.sorin.com

Contact:

Gabriele Mazzoletti
Director, Corporate Communications
Sorin Group
Tel: +39 02 69969785
Mobile: +39 348 9792201
e-mail: gabriele.mazzoletti@sorin.com
or
Francesca Rambaudi
Director, Investor Relations
Sorin Group
Tel: +39 02 69969716
e-mail: investor.relations@sorin.com
 
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