Amber Capital to invest $3 million in Vardanants Center for Innovative Medicine

23.08.2023 | 15:02 Home / News /
#Amber Capital #Vardanants Center for Innovative Medicine
Amber Capital invested USD 3 million in Arinterlev CJSC, Vardanants Center for Innovative Medicine. The proceeds of the investment will support company’s expansion plans including the introduction of new services, the launch of 3 new facilities in Yerevan and up to 15 regional smaller clinics.

The investment will also support Vardanants Center for Innovative Medicine to enhance its environmental, social and the corporate governance practices and bring additional jobs not only to the capital, but also the various regions of Armenia. The funding will further modernise the company’s services allowing it to offer exceptional services to its customers.

Anushavan Simonyan, CEO of Amber Capital Armenia, highlighted the importance of development of the healthcare services in Armenia: “We are pleased to be a part of expansion of quality medical services, transfer of technology and expertise in Armenia. Joining efforts with a well-established clinic and reputable management team is a true investment in a healthier future with creation of a positive impact that goes far beyond the balance sheet.”

Levon Altunyan, co-founder and Chairman of Vardanants Center for Innovative Medicine, said: “The cooperation with Amber will allow us to carry out our expansion plans and reach the milestones five years earlier that it would be possible otherwise and will help us increase the average life expectancy of our patients faster. I wish all Armenian companies finding such a partner to walk the journey with.”

The EU-Armenia SME Fund, a private equity fund managed by Amber Capital, was launched in Armenia in January 2020 with investments from the European Union (EU), European Bank for Reconstruction and Development (EBRD), Amundi-ACBA Asset Management, the Hirair and Anna Hovnanian Foundation and the investment team of Amber Capital. It has since raised further capital from the Armenian National Interests Fund, C-Quadrat Ampega Asset Management Armenia, the Dutch Entrepreneurial Development Bank (FMO) and the Government of Armenia, as well as a number of Diaspora investors, with total committed capital of over USD 60 million. The Fund is committed to financing the sustainable growth of Armenian SMEs through capital investments and introduction of high standards of environmental, social and corporate governance practices. The transaction marks 7th investment by EU-Armenia SME Fund.
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