"Ropharma" Braşov controls one third of the largest private hospital in Transylvania

In mid-December, the shareholders of "Ropharma" Braşov will be discussing the approval of the financial lease and sale/leaseback contracts that Teo Health of Braşov concluded with ING Lease. Ropharma holds a 33% stake in Teo Health of Braşov. The contract has a value of 1.5 million Euros, and is intended to finance the acquisition of medical equipment and devices. Teo Health will invest 20 million Euros in the setup of the largest private hospital in the Transylvania region -"Sfântul Constantin" (ed. note: Saint Constantine) - which will be located in the former Colgate Palmolive building of Braşov.

The shareholders of the company will also review the opportunity of acquiring a 50% stake in "Eurofarmaco" of the Republic of Moldova, from American group "GlaxoSmithKline". The owner of "Ropharma" Braşov, businessman Mihai Miron, owns the remaining shares in the company of the Republic of Moldova. The members of the board have decided on a price of 52.05 Euros/share, which set the cost of the deal at 150,000 Euros.

The American group controls 50% of the shares of Eurofarmaco in the Republic of Moldova via the company called Europharm, which they acquired in 1998.

Ropharma is indirectly controlled by businessman Mihai Miron, through the companies ADD Pharmaceuticals and Rimia Investments, registered in Cyprus, which hold 23.4%, and 26.6%, respectively. Another shareholder of the company is Arrow Pharmaceuticals, a company registered in the United States, which holds 31.31% of the company, whereas the Authority For State Assets Recovery (AVAS) holds 0.33%.