EQS-Adhoc Achiko AG: Achiko establishes a joint venture with PT Indonesia Farma Medis for the production and distribution of its test platform for Covid-19 in Indonesia
EQS Group-Ad-hoc: Achiko AG / Key word(s): Joint Venture
Achiko establishes a joint venture with PT Indonesia Farma Medis for the production and distribution of its test platform for Covid-19 in Indonesia
- Achiko signs agreement with PT Indonesia Farma Medis to establish a new joint venture, including a contract with PT Mitra Asa Pratama and a memorandum of understanding with PT Pharos Indonesia, completion subject to formal approvals
- Test kits will be integrated with Achiko's Teman Sehat (Health Buddy) mobile app to address growing demand for Covid-19 testing in Indonesia
- The joint venture and the contracts are a precursor to product registration, currently planned to be filed in the next few weeks
Zurich, 12 February 2021 - Achiko AG (SWX: ACHI, ISIN CH0522213468) ("Achiko", the "Company") and PT Indonesia Farma Medis ("PIFM") have signed an agreement to establish the joint venture company PT Achiko Medika Indonesia ("PAMI") for the production, distribution and marketing of its testing platform developed from Project Gumnuts for Indonesia.
Khairudin Gustam, Chief Executive Officer of PIFM said: "As Covid-19 cases across Indonesia have surged past the one million mark and the contagiousness of the disease continues to severely disrupt the economy, the need for mass market testing becomes apparent. The economy needs to find a way to function, but given the size and population of Indonesia, reliance on PCR testing is not enough. Additional testing methods for Covid-19 are needed and we believe the Project Gumnuts technology is a key solution to help the country and the economy get back on their feet."