Náchod: Bankrupt supplier/manufacturer of medical materials Batist is still looking for an investor

The bankrupt supplier and manufacturer of medical materials Batist from Červený Kostelec in the Náchod region is still looking for an investor. Negotiations with the Brno-based investment company Jet Investment of financier Igor Fait for a 100 percent entry have failed. Now an additional tender for an investor has been announced, the deadline for submission of binding offers ends on 29 March.

Jet Investment was supposed to acquire a 100% stake in Batist Medical (BM) and Batist Medical Production (BMP) in the reorganisation. We did not agree with the sellers on certain key parameters," Fait said without further details. Tomáš Mertlík, the CEO of Batist Medical and owner of the entire group, made a similar comment, according to HN. "BM and BMP have announced an additional tender for an investor to enter both companies with equity as of 25 January 2024," he added.

Batist has been in bankruptcy due to insolvency since last January. In the case of Batist Medical's insolvency, creditors have filed claims worth CZK 1.04 billion, while in the case of Batist Medical Productions, they have filed claims worth CZK 376 million. Mertlik believes that an investor will be found and thus prevent the bankruptcy of BM and BMP. "There is no reason for bankruptcy because there are enough serious candidates for capital injection and the company is already operating successfully again, producing and selling its products," he said.

Once a new investor is found, its entry into both companies must be approved by creditors, in particular Komerční banka, Citibank and Raiffeisenbank, which have the largest claims on Batist Medical and Batist Medical Production. A meeting of creditors has been called by the court for 14 May.

Batist has previously identified the main reason for its insolvency as the fact that it was the victim of fraud in two Asian business cases, losing almost CZK 150 million in advances and consequential damages. The group was also hit by steep increases in energy, transport and materials, which it could not reflect in product prices. The decline in protective equipment business following the cessation of the epidemic also had a negative impact.

Source: Hospodářské noviny and CTK
Photo: Batist