Concorde To Build EUR50M Stem Cell Facility In Romania

„Concorde Gruppe GmbH and Healthcare of Today, Inc. jointly announce that Concorde Gruppe has secured EUR50 million from its own funds, Private Investors, the European Community, and Institutional Investors, to build the first stem cell research and treatment facility in Romania,” the press release reads.

Concorde Gruppe and Healthcare of Today formed a joint venture to build the center, which spans over 18,000 square meters, added with treatment facilities spanning over 42,000 square meters. The center will be managed by Healthcare of Today through the SK3 group.

„The funding to be provided for the project is larger than the $50M amount originally included in the Letter of Intent announced in February between Concorde Gruppe and Healthcare of Today,” Concorde Gruppe’s Managing Director Alex Taranu said.

Concorde Gruppe is a holding company operating through four subsidiaries, namely Concorde Developments, active in real estate, Concordia Asset Management, Concorde Capital, active in investment banking and advice, and Concorde New Energy, developer of eco-friendly energy.

Healthcare of Today, founded in 2008, is active in the distribution of medical equipment, facilities for the care of the elderly, healthcare consultancy, insurance and biotechnology.