JSC Olainfarm investments in subsidiary OlainMed Ltd reach EUR 300 thousand in 2019

on September 6, 2019

After evaluating the situation in OlainMed Ltd, JSC Olainfarm has decided to increase the planned amount of investments to EUR 300 thousand. The examination of the situation shows that the previous Board of OlainMed Ltd, acting in an inefficient and incompetent manner, failed to complete its tasks and did not provide an effective economic activity and financial control mechanism, leading the company to a difficult financial situation. Unable to provide successful operation of the company and failing to comply with the obligations of JSC Olainfarm, Board member Darja Cvetkova and Chairman of the Board Viktorija Zefirova-Tačinska resigned from their positions on the Board of the company.

To expeditiously implement the company’s future operations, in a short amount of time, JSC Olainfarm decided on a new Board of directors, electing Jēkabs Zīle to the Board of OlainMed Ltd. and keeping a position on the Board for Janis Klievēns. JSC Olainfarm plans to continue investing in the improvement of the range and quality of services provided by the company without reducing the number of medical staff. Currently, an exact financing plan is prepared, which will provide a higher level of investment in a shorter-term than previously planned. In order to stabilise the situation for the long-term, solutions are being sought out to reduce the company’s debt. Successful cooperation has emerged between JSC Olainfarm and the Municipality of Olaine, to provide high-quality medical services for all county residents.


Additional information:
External Communication Consultant
Ieva Lapiņa-Ennīte
tel. 29375689


JSC Olainfarm investments in subsidiary OlainMed Ltd reach EUR 300 thousand in 2019