Luminor banka has provided long-term financing in the amount of 40 million euros to the group of healthcare companies to expand the business of AS Repharm in the Baltics.
Additional financial resources will be invested in business development outside Latvia, offering medical services in Lithuania.
Thanks to the financing provided by Luminor banka, JSC “Repharm” has acquired a controlling stake in one of the largest groups of medical service operators in Lithuania. The group includes 33 medical institutions, three of which are specialized clinics, while the other 30 are outpatient clinics operating in 16 Lithuanian cities.
“The availability and quality of medical services is one of the challenges facing the health care system and European governments. Data compiled by the OECD show that life expectancy in both Latvia and Lithuania is one of the lowest in the European Union. In order to improve the health status of the population and promote the availability of professional and full-fledged medical services in the Baltic States, we are pleased to support JSC Repharm in developing on a Baltic scale, ”says Ilze Zoltnere, Head of Luminor’s Corporate Department.
In Latvia, JSC Repharm provides residents with a full health care cycle. Currently, the JSC “Repharm” group of companies includes five companies engaged in both retail sale of pharmaceutical products in pharmacies under the brand name “Mēness aptieka” and wholesale (JSC “Recipe Plus”), manufactures herbal medicines in the Riga pharmaceutical factory, which is one of the largest natural medicine manufacturers in the Baltics, provides outpatient health care services in the Association of Health Centers, which includes 14 outpatient institutions in Latvia, as well as provides a wide range of laboratory examinations in more than 60 branches of the Central Laboratory throughout the country.
“The opportunity to offer quality medical services outside Latvia has long been one of the strategic goals of our group of companies. With the support of Luminor, we will be able to implement our further development by expanding the range of medical services at the Baltic level. In Latvia, we will actively continue to improve the quality of services, patients and pharmaceutical care in order to achieve new indicators of excellence, ”points out Dins Šmits, Deputy Chairman of the Supervisory Board of JSC Repharm.
“Repharm” is a group of Latvian companies working in the field of healthcare, which unites “Sentor Farm aptiekas” (brand “Mēness aptieka”), JSC “Veselības centru liittība”, SIA “Centrālā laboratorija”, “Rīgas farmaceitiskā fabrika” and “Recipe Plus” . Repharm group of companies was established in 2009.
In 2019, the turnover of the Repharm Group was 283.008 million euros, but the profit of the group was 34.56 million euros. The Group’s financial data for 2020 have not been published yet
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