Themis Medicare to Receive Management Fee from Richter Themis Medicare Limited Joint Venture

Themis Medicare Ltd has entered into a Memorandum of Understanding (MoU) with its joint venture partner, Gedeon Richter Plc., Hungary, for Richter Themis Medicare Limited (RTML). As per the MoU, Themis Medicare will be entitled to receive a management fee of USD 440,000 or 3% of RTML’s net revenue, whichever is higher, subject to achievement of certain performance targets by RTML. The management fee is paid as a compensation for Themis Medicare’s efforts in development of new business opportunities, regulatory compliance and for extending Corporate Governance Support.