R-Pharm Holding, LLC (Headquarters: Moscow, Russia; Chairman: Alexey Repik, hereinafter R-Pharm) and Canon Medical Systems Corporation (Headquarters: Otawara, Tochigi Prefecture, Japan; President and CEO: Toshio Takiguchi, hereinafter Canon Medical) have agreed to establish a joint venture for sales and maintenance of diagnostic imaging equipment, manufactured by Canon Medical, in nine CIS member states, including Russia. The consummation of the joint venture will occur when all the necessary regulatory approvals are obtained.
On June 29th, 2019, at G20 Osaka Summit in front of the heads of State of both Russia and Japan, R-Pharm and Canon Medical agreed to establish a framework for a strategic partnership in the territory of the Russian Federation. The agreement that was struck back then covered plans of future cooperation in sales and maintenance as well as localization of Canon Medical’ diagnostic imaging equipment manufacturing. Establishment of a joint venture has been proceeding since then. R-Pharm and Canon Medical will continue to strive to realize local manufacturing.
R-Pharm’s Chairman of the Board, Alexey Repik, echoed these sentiments by saying, “I would like to express my sincere gratitude to our partners for their immense confidence. Establishment of a joint venture, which will deal with Canon Medical's advanced products sales and maintenance is an outstanding event for our country. I have no doubt that this major step will strengthen bilateral relations between Russia and Japan. In addition to the economic benefits, the implementation of this agreement will enable the Russian healthcare system to access much-needed resources to help detect diseases early and drastically lower mortality rates, both of which are top priorities for the national agenda.”
Canon Medical CEO, Toshio Takiguchi, said of the agreement, “I am grateful to be able to contribute to the development of the CIS healthcare system, while securing strategic opportunities for the Japan-Russia economic relationship through strategic business operation in an equal partnership with a local company. It is an honor to partner with R-Pharm, one of the leading healthcare companies in the region, and I look forward to seeing what we can achieve together.”
With establishment of the joint venture, R-Pharm and Canon Medical will provide higher-quality, more efficient healthcare in CIS member states including Russia through sales and maintenance of diagnostic imaging systems manufactured by Canon Medical Systems.
About the joint venture
Company name: RP Canon Medical Systems, LLC (OOO «АрПи Канон Медикал Системз»)
Location: Russian Federation, Moscow
Capital: Approx. 800 million Russian rubles, 1.2 Billion Japanese yen (TBD)
Capital ratio: R-Pharm Holding, LLC 50%; Canon Medical Systems Corporation 50%
Representatives: One person each from shareholding companies
Business areas: Sales and service maintenance of medical diagnostic imaging systems
R-Pharm Group introduces comprehensive solutions for the healthcare system and focuses on research, development, manufacturing and commercialization of pharmaceuticals, laboratory equipment and medical devices. R-Pharm's mission is to increase the accessibility of advanced diagnostics, preventative care and therapy methods in Russia and abroad.
More than 3,000 employees of the group in 70 branches and 30 countries of the world do their best to provide as many people as possible with the necessary means to improve and prolong their lives. For more information, visit the R-Pharm group’s website: http://www.r-pharm.com/en
About Canon Medical Systems Corporation
Canon Medical offers a full range of diagnostic medical imaging solutions including CT, X-Ray, Ultrasound and MR, across the globe. In line with our continued Made for Life philosophy, patients are at the heart of everything we do. Our mission is to provide medical professionals with solutions that support their efforts in contributing to the health and wellbeing of patients worldwide. Our goal is to deliver optimum health opportunities for patients through uncompromised performance, comfort and safety features.
At Canon Medical, we work hand in hand with our partners - our medical, academic and research community. We build relationships based on transparency, trust and respect. Together as one, we strive to create industry-leading solutions that deliver an enriched quality of life. For more information, visit the Canon Medical website: https://global.medical.canon/
*9 countries: Russian Federation, Kazakhstan, Belarus, Kyrgyzstan, Armenia, Azerbaijan, Turkmenistan, Uzbekistan, Tajikistan