CapMan invests in Vital Development Corporation

Vital is a developer, producer and provider of biochemical and immunological reagent test sets, analyzers and equipment used in laboratory analysis. The products are primarily used in public laboratories, to which the company sells mainly through distributors. The majority of the company’s sales are domestic, while 20 percent are generated by exports to CIS and other countries. The company was founded in 1994 by a team with experience in medical research and development. Vital employs approximately 90 people, of which 11 work in research and development.

The Russian In-Vitro Diagnostics (IVD) market is estimated at approximately $300 million and is expected to grow by 10–15 percent until 2018. The IVD market is following the general trend of the Russian laboratory market, which is growing steadily.

”Vital represents an exciting opportunity to invest in the Russian IVD market. With the growing volume and increased scope of diagnostic tests performed, we believe that this market offers excellent growth opportunities also for small and specialized players“, says Alexander Vlasov, Partner at CapMan in charge of the investment.

“We capitalize on our strong research and development team and plan to further expand our product line after launching two new product portfolios related to immunological analysis and water purification systems designed for medical laboratories earlier this year. With support from our new partners, we are well-positioned to expand our operations to meet growing demand in our key IVD markets”, says Alexander Plekhov, Executive Director at Vital.

Following the investment, CapMan Russia fund owns 25 percent of Vital’s equity. CapMan Plc is a significant investor in the CapMan Russia fund.

For more information, please contact:

Alexander Vlasov, Partner, CapMan Russia, tel. +7 495 620 48 85

Alexander Plekhov, Executive Director, Vital Development Corporation, tel. + 7 812 326 61 98

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