HANOI, VIETNAM - Media OutReach - August 13,2020 - On August 12, 2020, VinSmart Research andProduction Joint Stock Company (a subsidiary ofVingroup) officially announced the strategic agreement with Medtronic plc to producecomponents for Medtronic's ventilators. It is expected that around 50,000 unitsof Vingroup's ventilator components will be exported to the US and Irelandover the next year.  

Medtronic isamong the world's largest medical technology, services, and solutionscompanies, providing healthcare services and healthcare solutions to over 150countries. Medtronic's ventilators are considered essential equipment in thefight against the COVID-19 pandemic, in which, an air blower is one of the corecomponents.

According tothis agreement, VinSmart Research and Production Joint Stock Company willpartner with Medtronic to produce components for Medtronic's ventilatorseffective June 2020. In particular, Medtronic will obtain componentsmanufactured entirely by VinSmart and VinFast Manufacturing and Trading Co.,Ltd. The ventilator's components manufactured by VinSmart are evaluated to meetthe requirements to be exported around the globe. 

It is expectedthat the first components will be exported in August 2020. The goal is thatover the next year, 50,000 VinSmart units will be exported to the US andIreland, providing additional ventilators to meet increased demand.  

About theagreement, Mr. Madan Krishnan, Vice President of Minimally Invasive TherapiesGroup, Asia Pacific, Medtronic, said: "No single company can meet the globalventilator demand alone. To further supplement supply to meet overwhelmingdemand, we publicly shared the design specifications for our PuritanBennett™560 (PB560) ventilator system in March 2020 under a permissive license.To further ramp up our own production, we have been collaborating with a numberof international partners who can supplement part of the production process.The partnership with Vingroup will be one that will see them manufacturingcomponents within our ventilators. Their support in this manufacturing processwill aid us to further increase our ventilator supply.

Previously,Vingroup received the technology for producing PB560 ventilators under apermissive license from Medtronic. After three months of research based on thisspecific model, Vingroup successfully developed VSmart ventilator, VFS-510,with 70% localised components, including the core and other complex components.The production has been licensed by the Vietnamese Ministry of Health and hasexported to Russia, Ukraine, and Singapore for the first time.

Mrs. Le Thi ThuThuy, Vice Chairwoman of Vingroup, said: "Vingroup had alsoofficially announced the establishment of the Machine and Components divisionto develop partnerships in terms of designing and strategic producing (ODM) fortop corporations all over the world. Products VinSmart designs and manufacturesinclude: PCBA circuit boards, switches, antennas, molds, and completed productssuch as smartphones, connected devices (IoT), electronic products, electronics,refrigeration, computer equipment, medical products, and products that arespecifically requested by partners." 

Participatingin a complex supply chain requiring components with absolute precision andaccuracy for Medtronic not only affirms VinSmart's production capacity andtechnology, but also marks a significant transition to a new level for Vingroupin the road to become a leading industrial company in the region.

About VinSmart Research and Production Joint Stock Company

VinSmart Research and Production Joint Stock Company (a branch of Vingroup) owns a group of VinSmart electronic complex factories in Hoa Lac (Thach That, Ha Noi) with an area of approximately 14.8 ha, and a total of capacity of 125 million devices per year.On June 20 2020, the Vsmart ventilator VFS-510 model, manufactured by VinSmart Research and Production Joint Stock Company was officially approved by the Vietnamese Ministry of Health. The VFS-510 model was developed based on the PB560 model of Medtronic.