TRACK-E Composite

"Track-E Composite" since 2002 has been engaged in the design and manufacture of endoprostheses of large joints.

History

2023: Requirement to declare the company bankrupt from VTB Bank due to debt of 650.91 million rubles

In early April 2023, it became known that VTB Bank appealed to the Moscow Arbitration Court with a demand to declare bankrupt the capital company CJSC Track-E Composite, whose debt is estimated at 650.91 million rubles (as of August 2022).

CJSC Track-E Composite is the largest Russian manufacturer of endoprostheses: its share in the domestic market is approximately 10%. The company took a loan from VTB to deploy production facilities on the basis of the Moscow site VNIINM. The line for the production of endoprostheses of large joints began to work in 2018: the volume of production reaches 10-12 thousand products per year, and the level of localization is estimated at 97%. In the future, it was planned to equip the line in order to increase the volume of production to 25 thousand endoprostheses per year and increase localization to 100%.

The statement of claim for the recovery of 651 million rubles from CJSC Track-E Composite is associated with the emergence of overdue debt from October 2020 under two loan agreements

Reportedly, the statement of claim for the recovery of 651 million rubles from CJSC Track-E Composite is associated with the emergence of overdue debt from October 2020 under two loan agreements, as well as an agreement on the issuance of a guarantee. In the summer of 2021, CJSC Track-E Composite was declared bankrupt through arbitration by the Federal Tax Service of Russia No. 9 in the city of Moscow. The reason was a debt of 10.6 million rubles. The company repaid the debt, and in July 2022 the proceedings in this case were terminated.

VTB Bank appealed to the court with a question about the bankruptcy of CJSC Track-E Composite in November 2022. However, proceedings in this case may be terminated if, during the consideration of the materials, it is found that the property available to the debtor is insufficient to carry out expenses in the process, and in the absence of written consent of the persons involved in the case, finance the expenses in the bankruptcy case with an indication of the amount of financing.^[1]

2020: Production of hip endoprostheses started for the first time in Moscow

In August 2020, for the first time in Moscow, hip arthrostheses began to be produced. It was launched at the Track-E Composite enterprise. The capital's mayor Sergei Sobyanin took part in the opening ceremony of the production line.

According to the Industrial Development Fund (FRP) "Track-E Composite" is its borrower, the company has begun mass production of full-cycle hip arthrostheses. Mass production of three models has been established. After reaching design capacity, the company plans to produce up to 15 thousand products per year with an assortment of up to 10 models.

The production of hip endoprostheses has started in Moscow

By August 2020, the production of hip arthrostheses at the Track-E Composite enterprise was localized by 67-89%, depending on the model. In the future, it is planned to bring this figure to 100%, provided that the production of medical alloys and polymers certified for implantation into the human body appears in Russia.

According to the company, by August 2020, the share of imports of hip arthrostheses in Russia is about 90%. Mainly products are supplied from the USA, Great Britain, Germany, Switzerland and France. Thanks to the launch of new production, this figure may drop to 80% by 2022. At the same time, domestic endoprostheses are cheaper than foreign analogues with comparable quality, the Russian manufacturer claims.

Endoprostheses manufactured by Track-E Composite are used to replace the hip joint affected by degenerative-dystrophic or inflammatory diseases. Endoprosthetics allows the patient to restore the mobility of the joint, avoid disability and restore the lost ability to work.

The company's products are registered with Roszdravnadzor and were tested in 29 healthcare institutions of 12 constituent entities of the Russian Federation.^[2]

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