Russian manufacturer of Covid tests sold for one ruble | 09/16/21

Sberbank and AFK Sistema of billionaire Vladimir Yevtushenkov acquired Nearmedic, a company that produces coronavirus immunity tests developed by the N.F. Gamalei.

How press service reports AFK Sistema, the transaction amount was one ruble.

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New Investment Holding (jointly controlled by AFK Sistema and Sberbank) acquired Nearmedic International Limited, which owns 100% of the authorized capital of Nearmedic Plus LLC, Nearmedic Pharma LLC and other pharmaceutical assets in Russia and Italy.

Nearmedic Plus in October last year began mass production of test kits for antibodies to SARS-CoV-2.

Using an enzyme-linked immunosorbent assay for the receptor-binding domain (RBD) of the S-protein of the coronavirus, third-generation tests, as reported by the company, can detect not any antibodies to the virus in the body, but protective immunity.

The net debt of the Nearmedic group of companies amounted to 5.9 billion rubles at the date of the closing of the transaction. Among them are loans from Sberbank for 1.2 billion rubles, which will be repaid with the money of the bank itself and AFK Sistema.

AFK, according to the terms of the deal, retains the option to redeem Sber’s stake in 3.5 years with the simultaneous transfer of claims on the debt to the company.

“The Nearmedic group of companies has a development potential that can be realized through restructuring and efficiency gains.” This is where Sistema, as an investment company, has a strong and proven expertise. Moreover, AFK Sistema has accumulated significant competencies in pharmaceuticals, medicine and biotechnology – all these areas are key for Nearmedic, – said Vladimir Chirakhov, President of AFK Sistema, commenting on the deal.

β€œIn the near future, we will begin to implement a plan to optimize the business of the Nearmedic group of companies, which will increase the shareholder value of the assets acquired as part of the transaction and expand our production capabilities,” added Chikharov.


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