On November 9th, JSC Olainfarm signed an agreement with Otrais Eko Fonds, Karlis Kupcs and Toms Baumanis whereby it acquired 100% shares in private medical company Klinika DiaMed. According to confidentiality clauses of the said agreement, the value of transaction is not being disclosed at this stage. The transaction will be registered with Latvian Company register within coming days. Liene Cipule will remain the director of Klinika DiaMed Ltd..

“Acquisition of DiaMed is the first step of Olainfarm in sector of health care services. From now on our group will not only provide top quality medicines for people that already need them , but we will also offer products and services targeted at preserving one’s health. This will be a comprehensive approach to health, with both, prevention and treatment. Within a few coming years we plan to increase number of Olainfarm’s health care institutions in Riga and in regions, where we plan to offer health care services including treatment, prevention, rehabilitation and introduction to healthy lifestyle under a supervision of high level specialists,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

Karlis Kupcs, an ex-co-owner of Klinika DiaMed Ltd., its Medical director, Head of Institute of Radiology of P. Stradins University Hospital said: “I am delighted that in ten years Klinika DiaMed from just an idea with one magnetic resonance device on its equipment list has developed into an important and highly valued private medical institution. We have developed a highly qualified team, providing health care services not only to people throughout Latvia, but also to our foreign patients. Jointly with Olainfarm, we could grow faster, improving the scope of our services and their availability to patients “.

“High performance standards of DiaMed are well respected by public and private health care institutions, general practitioners and other health professionals and by large companies, many of whom ask us to be a health care provides for their teams. Our advantage is not only an outstanding team of medical professionals, but also the fact that we are one of the every few offering services every day, including weekends. We have created a good bais for a further development, specifically in priority areas of diagnostics, small surgeries and rehabilitation. Being a part of Olainfarm group will boost DiaMed’s managerial, organizational, intellectual and financial capacity for further growth. We plan to put particularly large effort in attracting foreign clients and in developing prevention and health promotion services,” says Liene Cipule, Director of Klinika DiaMed Ltd..

Klinika DiaMed Ltd. has a ten-year experience in providing health care services. Clinic offers high precision visual diagnostics, consultations, treatment and rehabilitation. This allows providing an assistance of a wide range for different health conditions. Klinika DiaMed Ltd. offers small surgeries for treatment of blood vessels, neurosurgery, oncology, plastic surgery, traumatology and orthopaedic surgeries. Its daytime inpatient unit performs complicated diagnostic examinations, surgeries and manipulations, and also conservative (non-surgical) treatment and rehabilitation. In DiaMed, you can also consult invasive radiologists, neurosurgeons, neurosonologists, neurologists, cardiologists, orthopaedists, oncologists, traumatologists, physiotherapists and other medical professionals.

There are more than 70 people working in Klinika DiaMed. Medical doctors of DiaMed have been trained not only locally but also in Finland, Sweden, Denmark, Austria and the USA. Sales of Klinika “DiaMed Ltd. last year exceeded one million euros.

Group of Olainfarm consists from the parent company JSC Olainfarm, pharmacy chain of Latvijas aptieka Ltd., producer of eco-cosmetics Kiwi Cosmetics Ltd., producer of elastic and compression materials Tonus Elast Ltd.. JSC Olainfarm also owns 96,69% shares in Silvanols Ltd., leading Latvian producer of food supplements.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
JSC Olainfarm Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv