OTT-ONE to order hundreds of new ventilators and millions of masks from China

OTT-ONE has signed a contract for the China-based production and delivery to Hungary of hundreds of ventilators and millions of masks used for the protection against coronavirus. The total value of the order placed by the National Healthcare Services Center (ÁEEK) is HUF 7.7 billion, of which professional ventilators, related accessories and protective masks with European certification will be provided by the listed company. The devices will be ready by 31 May at the latest. The customer pays the purchase price in full in advance.

OTT-ONE has entered into another high-value business agreement to meet the needs arising from the coronavirus (COVID-19) epidemic. This time, the listed company, which focuses on innovative information technology solutions, will acquire hundreds of ventilators and related accessories (including drug dispensers, monitoring equipment and breathing circuits), and millions of masks on behalf of the National Healthcare Services Center (ÁEEK) with a total value of HUF 7.7 billion. The Chinese partner of OTT-ONE will manufacture devices for the control of the coronavirus epidemic by 31 May at the latest. ÁEEK pays the purchase price in full in advance, immediately after the signing of the agreement.

Known primarily for its video streaming, security and online education solutions, OTT-ONE has already reported on developments in the fight against the coronavirus epidemic in recent weeks. On 26 March, the Ministry of Foreign Affairs and Trade ordered 500 ventilators worth HUF 4.7 billion, and Duna Aszfalt Kft. purchased 100,000 masks on 27 March through the company’s international relations for HUF 130 million. By 2 April, OTT-ONE and its Chinese partner were among the first to successfully complete the Chinese General Administration of Customs’ reviews of the manufacture and export of medical devices, based on significantly tightened export requirements, creating additional business opportunities for the company.

Both the ventilators ordered by OTT-ONE in March and the most recently purchased ventilators fully comply with the strict quality requirements enacted by the People’s Republic of China on 1 April 2020. The masks ordered from China are also high-quality equipments with European certification.

Over the past year, OTT-ONE has placed great emphasis on building business relationships with China, which it can successfully capitalize on and build on in the current epidemic situation. The company is constantly working to receive and fulfill additional orders based on good relations and experience, which represent a major value for both Hungarian healthcare and shareholders.