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Kinstellar hosts webinar on current developments in the CEE life sciences & healthcare sector
On 14 June 2022, Kinstellar hosted a webinar centred on current developments in the life sciences & healthcare sector across Central and Eastern Europe. We covered some of the most relevant and pressing topics currently impacting the life sciences & healthcare landscape, including (i) sector inquiries by local competition authorities in the area of life sciences; (ii) price reduction announcements and their relevance for the CEE pharma sector; and (iii) legal challenges on the use of artificial intelligence across the life sciences industry. Presentations were made by Tomáš Čihula, Eszter Takácsi-Nagy, Péter Vörös and Petr Bratský. Below we provide a brief summary: Sector inquiries
Transposition of New Deal for Consumers (Omnibus Directive, SGD, DCD)
Nearly a year has passed since the lapse of the transposition period for the Digital Content Directive and the Sale of Goods Directive, which brought important changes to national consumer protection rules. However, many jurisdictions still have not implemented the Directives. We are closely monitoring the implementation process in our EU jurisdictions. Below is an overview of the implementation status of the Directives in the remaining EU Member States where Kinstellar operates that have not yet implemented the Directivesand a brief summary of the main changes and the expected country-specific implications for business. In addition, we bring you information from several non-EU countries that have taken inspiration from the
Cookies: New Legislation
With France and Austria deciding on data protection issues in relation to Google Analytics, many more countries have followed suit in relevant changes to so-called web browser cookies. In order to limit the amount and quality of data retrieved by providers from users, mainly without them realising the true scope of this data and the use of such data by providers, legislators are passing stricter rules on data collection. Below is an overview of new legislation adopted to combat the extensive collection and usage of user data: Bulgaria The current legislative environment provides a more relaxed opt-out model of user consent regarding the use of cookies.
Misinformation in cyberspace
Since the war in Ukraine became the main subject of newspaper headlines, the amount of related misinformation spread online has reached new heights. As a result, several governments have adopted legislation that provides tools to combat the spread of misinformation. Below is an overview of legislation used to combat misinformation in the Central and Eastern Europe and Central Asia regions: Bulgaria It is worth noting that on 1 March 2022 the Bulgarian electronic media watchdog decided to suspend the distribution of TV channels “Russia Today” and “Sputnik” in line with the EU response to Russian military activity in Ukraine.
Cybersecurity in Emerging Europe and Central Asia
With the invasion of Ukraine and a substantial increase in cyberattacks on governments, critical infrastructure and other strategic targets, the topic of cybersecurity has gained even more importance. Below is an overview of the steps that national security authorities have taken to strengthen national security. Bulgaria On 24 November 2021, the Bulgarian government designated the State e-Government Agency as a national coordination centre for the purposes of Regulation (EU) 2021/887. The establishment of the coordination centre is expected to contribute to achieving a high level of network and information security, thus boosting the standards and
Setting up operations in Slovakia
Today’s uncertainties at the European Union’s eastern border have left companies questioning the safety of their people and the continuity of their operations in that part of the world. Businesses in the IT and BPO sectors that had found talent and growth opportunities in counties such as Ukraine, or Moldova are now rethinking their strategy and options to move operations across the border, either temporarily or permanently. Our team in Bratislava has prepared a quick overview of the most important aspects that you need to consider if you decide to move your operations to Slovakia. Download in English: Download in Ukrainian:
Data Privacy Concerns in the Metaverse. May the privacy be with us!
All of us have concerns regarding data privacy in the metaverse. Countless questions come to mind, such as: What is the metaverse? Can a digital personality be considered as personal data? What happens if digital data is processed? In this short article we touch on the metaverse’s main data privacy concerns. What is the metaverse? The metaverse is a virtual world that relies on multiple technologies such as virtual reality, blockchain, artificial intelligence, etc. There is no longer just one world like the real world anymore. A new virtual-world era has begun with the advent of different metaverses such as Horizon, Decentraland, Sandbox, and Upland, and it appears that their number will continue to increase.
Kinstellar advises NN Group on the acquisition of a majority share in Finportal
Kinstellar’s Bratislava office has recently advised NN Group (‘NN’), a group of financial services companies providing insurance, retirement services, pensions, banking and investments in 11 countries, on the acquisition of a majority share in Finportal, the number-three financial intermediation service provider in Slovakia in terms of turnover. Companies associated under the NN brand manage pension savings and life insurance for almost one million Slovaks. Finportal brings together more than two thousand intermediaries offering comprehensive financial advice under its own name and brand. Through its investment, NN intends to further strengthen its long-term cooperation with Finportal and is seeking areas for the
Kinstellar advises CPM International Telebusiness on the establishment of its new contact centre in Bratislava
Kinstellar’s Bratislava office has recently advised CPM International Telebusiness, an award-winning provider of omnichannel customer experience and sales solutions, on the establishment of a new service centre in Slovakia. CPM International is part of CPM Group and a member of the Omnicom Group network of companies with a number of EMEA hubs including Barcelona (Spain) and Bratislava (Slovakia) and multiple contact centres in the United Kingdom supporting the UK & Irish markets. Its international employee base provides 24-7 global coverage in 26+ languages via phone, email, social, chat and self-serve channels for some of the world’s most well-known brands including Harley-Davidson, Pepe Jeans, New Balance, Withings
Kinstellar advises Pro Partners Holding on the acquisition of a share in AquaCity Poprad waterpark resort from Letheby & Sons Limited
Kinstellar’s Bratislava office has recently advised Pro Partners Holding, a major investment group operating in the CEE region in the field of private equity, real estate and finance, on its acquisition of a minority share in AQUAPARK Poprad, a company operating the AquaCity Poprad waterpark resort, from Letheby & Sons Limited. The transaction also included the acquisition by Pro Partners Holding of land adjacent to AquaCity Poprad for the development of apartments and a residential complex from Scheidegger Training Institute Europe by way of an asset deal. The majority share in AQUAPARK Poprad was acquired by Bluevision, a company owned by the current CEO of the waterpark resort, Richard Pichonský. Both Letheby
Update of current eHealth trends in CEE and Turkey
As previously reported, eHealth (including telemedicine) has been one of the fastest growing areas within the healthcare sector over the last two years. Governments as well as healthcare sector operators across Central and Eastern Europe and Turkey continue to implement new solutions with a view to improving the provision of healthcare services and to enhance the digitalization of healthcare systems. Private healthcare providers and the various newly created eHealth providers and start-ups are crucial in pushing development in this highly dynamic area. Innovative solutions include online consultations and health examinations, the possibility of remote patient health data monitoring as well as electronic drug prescriptions.
Preliminary injunctions in Slovak civil and commercial disputes
Slovak courts are often requested to issue preliminary injunctions in civil or commercial disputes. A preliminary injunction serves primarily as a tool to prevent certain actions or harmful effects, e.g., not to dispose of real estate property in order to prevent undesired disposal, or not to terminate a certain contract. A Slovak court may order a preliminary injunction either (i) if it is necessary, without delay, to determine (legal) relations, or (ii) if there is a threat that the potential enforcement may be endangered. It is also possible to ask a Slovak court to issue a preliminary injunction prior to the initiation of arbitration proceedings, or following the initiation of the arbitration proceedings but prior