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Olainfarm will acquire 100 % of Klinika DiaMed shares under an agreement signed on Wednesday, November 9, between Olainfarm and the clinic's co-owners - Otrais Eko Fonds limited partnership, Karlis Kupcs and Toms Baumanis.

The purchase of Klinika DiaMed is the first step taken by Olainfarm in health care business. As a result, the pharmaceutical group will be providing not only high-quality medicines for the treatment of people but also products and services that can be used to prevent disease, said Olainfarm CEO Valerijs Maligins.

He also informed that the company has plans to increase the number of its medical institutions in Riga and Latvia’s regions in the coming years.

Klinika DiaMed will carry on with its work under the leadership of its director Liene Cipule.

Klinika DiaMed has ten-year experience in providing health care services. The clinic specializes in diagnostics and offers clients integrated treatment of neurological, orthopedic and oncological diseases.

The clinic, which has more than 70 employees, closed 2015 with EUR 1.211 mln in turnover and a loss of EUR 138,264. The company’s share capital is EUR 43,225, according to information from Firmas.lv.

Olainfarm group posted EUR 15.289 mln in net profit for 2015 which is a 25% growth y-o-y and the group's turnover rose 4% to EUR 97.392 mln.

Olainfarm makes medicines, food supplements, active pharmaceutical ingredients and chemical substances. Olainfarm shares are quoted on the Main List of the Nasdaq Riga stock exchange