6 Business combination

On January 7, 2020, Bellevue Private Markets AG, a 100% subsidiary of Bellevue Group AG, acquired 100% of the shares in REALWERK AG, based in Zug, Switzerland, for CHF 0.2 million thereof CHF 0.1 million in cash. The conditional purchase price payment amounts to CHF 0.1 million. The acquired company offers consulting and management services to qualified investors.