27.11.2015 .

Magnum Medical Received a Loan Increase up to 22.1 Million euros for Development of Its Retail Distribution Network

SIA Magnum Medical, the leading pharmaceutical wholesale and retail holding company in the Baltics, has received an increase in funding from Nordea in the amount of 7.1 million euros. The purpose of this funding is to continue development of the retail distribution network, and the aggregate loan granted to the holding company by Nordea this year amounts to 22.1 million euros.

Sandis Jansons, Managing Director of SIA Magnum Medical: “The main objective of our company’s business is to ensure top level service for our customers, including constant and timely availability of medication. As we strengthen our positions in the pharmaceutical industry, our aim is to continue development of the retail distribution network in Latvia within the framework of existing cooperation with the bank, while planning expansion of the market for medication and pharmaceutical products.”

“It is really nice to see that in this changing business environment, which also affects the pharmaceutical sector, the company Magnum Medical continues to proved itself as a stable long-term partner of the bank, demonstrating and ensuring transparent business development in the context of our cooperation. These are the most important factors when considering the establishment of successful long-term cooperation. I am pleased that we can support our partners in their most significant stages of development,” says Jānis Buks, Head of Nordea Latvia.

SIA Magnum Medical is one of the top wholesale pharmaceutical companies in the Baltic region and the third largest pharmaceutical wholesaler in Latvia, which manages the pharmacy chain Apotheka – one of the largest pharmacy networks in Latvia. Magnum Medical's main activity is the import and supply of medicinal products to medical institutions, pharmacies, hospitals and other health care institutions in Latvia and the Baltic region.

For additional information please contact: 
Signe Lonerte, Head of Public Relations, Nordea Latvia, tel. 6 700 5469, mob. 29 116 146, signe.lonerte@nordea.com