Global private markets firm Partners Group has, on behalf of its clients, agreed to acquire Pharmathen, a European pharmaceutical company, from international investment firm BC Partners.
The transaction values the Company at an enterprise value of around EUR1.6 billion. Founded in 1969, Pharmathen is a contract development and manufacturing organisation (CDMO) specialised in advanced drug delivery technologies for complex generic pharmaceutical products. With best-in-class Research & Development (R&D) capabilities, the Company is a specialist in the development of “sustained release” technologies that improve patient compliance, such as long-acting injectables, slow-releasing oral medicines and ophthalmics. Pharmathen’s differentiated B2B model attracts a blue-chip customer base of more than 215 generic pharmaceutical companies, which it serves from two US/EU-approved manufacturing facilities in Greece. The Company’s highly diversified product portfolio of c80 commercialised products is accessed by patients in more than 85 countries worldwide.
Partners Group will work closely with Pharmathen’s management team, led by Chief Executive Officer Dimitris Kadis, on initiatives to scale the business in Europe and globally. In particular, Partners Group will support the Company to accelerate its expansion in the US, by building out its on-the-ground presence. Additionally, Partners Group will draw on its deep sector expertise in healthcare and pharmaceuticals, as well as its experience in state-of-the-art manufacturing, to support the development of innovative technology platforms that improve patient compliance and lead to better treatment outcomes.
Pascal Noth, Managing Director, Private Equity Europe, Partners Group, says: “Pharmathen is very well-regarded by the broader pharmaceutical industry as an innovative and forward-thinking company. It is a mission-critical partner to its B2B clients whose advanced pharmaceutical technologies create real societal impact and optimise treatment outcomes for patients. Partners Group will lend its operational expertise to support Pharmathen as it expands to meet increasing demand for affordable Generics and positions for long-term, sustainable growth. We are delighted to back Dimitris and his talented management team and look forward to working with them.”
Read more/Source: Private Equity Wire
