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US investors may get control over Uzbekistan's largest medical company

Business Materials 24 August 2018 11:30 (UTC +04:00)

Baku, Azerbaijan, Aug. 24

By Fikret Dolukhanov – Trend:

The government of Uzbekistan is considering possibility of transferring the largest medical company of the country - Dori-Darmon to the trust of the American United Investment Healthcare Group, Uzbek media reported.

The agreement with the American company on trust management over the state share in Dori-Darmon's authorized capital is planned to be concluded for five years with a possible extension for another five years if the goals of the approved business plan are reached.

The state share in the statutory fund of Dori-Darmon is 71 percent. The company has organized over 2,200 social pharmacies that provide population of the republic with socially significant medicines and medical products.

Dori-Darmon is the only supplier of drugs and psychotropic substances for state medical organizations of the republic. It includes 8 joint-stock companies, 12 limited liability companies with 17 wholesale warehouses and 15 monitoring and analytical laboratories.

The state authorities also intend to grant the company with the right to purchase goods (works and services), including medicines, on an exceptional basis, without conducting procurement procedures on direct contracts.

State medical organizations, in turn, will also be able to purchase medicines from Dori-Darmon, on an exceptional basis, without conducting procurement procedures on direct contracts.

Dori Darmon and United Investment Healthcare Group LLC signed a memorandum of understanding in May 2017, during the visit of Shavkat Mirziyoyev to the US.

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Follow the author on Twitter: @FDolukhanov

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