Novolog is reporting its acquisition of 60% of the shares of Gsap Biomed Ltd. for a total of up to ILS 45 million, to be paid in three tranches. Novolog will pay ILS 33 million in cash on the transaction consummation date in consideration of the acquired shares. In addition to the cash payment, Novolog will pay additional payments to the seller according to a mechanism agreed upon in the agreement, which shall derive from Gsap’s financial results for 2022 and 2023, within 30 days of the approval date of Gsap’s annual financial statements in respect of each of the said years, at the volume of up to ILS 5 million in relation to 2022 and ILS 7 million in relation to 2023, as specified in the agreement (the said additional consideration is capped at a total of ILS 12 million).

Novolog was granted a call option and Gsap was granted a put option for the acquisition of all shares of Gsap to be held by the seller on the exercise date, whereby, subject to their exercise, Novolog will hold all of Gsap’s share capital.

Eran Taus, Novolog’s CEO: “Novolog is acquiring the holding of Gsap as part of Novolog’s plans to expand and supplement the basket of services that it currently offers to its customers, and as part of the Group’s plan to develop and offer additional services to the Group’s customers. Gsap is considered the leading consulting firm in Israel for the implementation of regulatory, clinical and quality control processes in the pharma and medical device sector, in addition to the services that Gsap offers in the field of clinical trials, which encompass the entire research management environment and are designed to ensure the success of the clinical trial. In recent years, Gsap has led hundreds of biomed projects in Israel and abroad. Under its management, Gsap has completed dozens of regulatory submissions for innovative medicines and medical devices. We intend to take action to expand the services offered by Gsap and to maximize the synergies between Novolog’s current activities and capabilities and Gsap's current and future operations.”

The agreement is contingent upon the receipt of the Competition Commissioner’s approval.

‍

‍

About Novolog Group

Novolog Group engages in healthcare services. The company was founded in 1966 and currently

employs about 800 employees. Novolog’s shares have been listed on the Tel-Aviv Stock Exchange

since 2017. Novolog operates through three divisions:

Logistics Division – offering complex logistics services and supplementary services in the

fields of pharmaceuticals, medical devices and clinical trials;

Healthcare Services Division – High quality medical care based on innovation, compassion, and personalized care

Digital Division – offering medical information and services to patients and physicians.

‍

‍

http://www.novolog.co.il

‍

https://il.linkedin.com/company/novolog

IR: Jonathan Raz jonathan@km-ir.co.il

‍