The ACRA Analytical Credit Rating Agency confirmed International Medical Center for Biomaterials PJSC (Gemabank, MOEX: GEMA) credit rating BB+ according to the national rating scale for the Russian Federation with a "Stable" forecast.
The credit rating of International Medical Center for Biomaterials PJSC is confirmed due to the maintenance of strong liquidity, as well as very strong cash flow and very high profitability. The Company's financial risk profile is also characterized by a low debt burden with an average level of debt service and a small business size. The assessment of the operational risk profile, in turn, takes into account Gemabank’s continued leadership position in the narrow industry segment of human cell and tissue banking, an average assessment of corporate governance and a very high level of geographic diversification.
The company’s credit rating was first published by ACRA on July 20, 2022. The next revision of the credit rating and forecast for the credit rating of International Medical Center of Biomaterials Processing and Cryostorage PJSC is expected within one year from the date of publication of this press release.
International Medical Center for Biomaterials PJSC (Gemabank) is a biotechnology company, a part of the Artgen Biotech group of companies (MOEX: ABIO), engaged in the personal storage of stem cells and the development of gene therapy drugs for the treatment of blood and immune system diseases. The company’s share in the Russian market remains at about 40% (at the end of 2023, Gemabank had over 40 thousand samples in storage). International Medical Center for Biomaterials operates in 150 Russian cities and has representatives in Kazakhstan and Armenia.