Széchenyi health sector investments reach HUF 2.5 bln
The Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support small and medium-sized enterprises (SMEs), has invested more than HUF 2.5 billion in 17 Hungarian SMEs in the health and biotechnology industries, SZTA said in a statement reported by Hungarian news agency MTI.
Three-quarters of the SZTAʼs health investments took place between 2014 and 2016, and the venture capital fund said it plans to extend its health portfolio.
Profitability improved at two-thirds of the 17 health businesses, with nearly 60% registering increased revenues and more than 90% sustaining or raising employee numbers in 2015, their last full business year, the SZTA said.
The businesses included in the SZTA health portfolio are mainly involved in hospitals, the drug industry or biotechnology or are innovative private clinics, noted Imre V. Csuhaj, chairman-CEO of Széchenyi Capital Fund Management Zrt.
Some 85% of the capital of the SZTA comes from European Union funding and 15% from Hungarian state resources.
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