"Ropharma" receives shares in exchange for a debt of 1.8 million Euros

Ovidiu VRÂNCEANU (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 8 septembrie 2011

"Ropharma" receives shares in exchange for a debt of 1.8 million Euros

The shareholders of Ropharma have approved the conversion into stock of a debt of 1.8 million Euros into shares in Ropharma Distribution.

The shareholders of the company will need to decide on October 3rd if the company will participate in the 2.9 million lei share capital increase of Teo Health, which manages the "Sfântul Constantin" hospital of Braşov. Ownership of Teo Health is divided equally between three investors - Ropharma, controlled by businessman Mihai Miron, Cristian Teodorescu, the owner of Teo Holding, and the vice-president of the Board of Directors of SIF Transilvania, Floriean Firu. According to Miron, all of three shareholders will participate with equal amounts in the share capital increase.

The Sf. Constantin hospital was inaugurated in March, following an investment of 20 million Euros.

Ropharma is indirectly controlled by businessman Mihai Miron. ADD Pharmaceuticals and Rimia Investments, registered in Cyprus, own 23.47% and 21.43% of the shares, respectively. Another shareholder is Arrow Pharmaceuticals, a company registered in the US, which owns 31.31% of the company, whereas the Authority for the Recovery of State Assets owns 0.33% of the shares.

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