Egypt - The “Rx Healthcare” platform, owned by EFG Hermes, is in advanced stages on a number of highly promising opportunities in the injectables and other segments.
Sources told Daily News Egypt that entering in new segments will help the platform expand its investments in the pharmaceuticals sector.
The sources added that negotiations regarding the acquisition are still ongoing, with potential aggregate deal values exceeding EGP 1.5bn, supporting the platform’s strategy of expanding its investments in the pharmaceuticals sector and capitalising on the track record achieved in U Pharma.
During 3Q22, U Pharma (UP), owned by RX Healthcare, has increased its market share and market ranking as per IMS estimates and held its position as the market leader in the LVP Hospital Solutions space, capitalizing on growing market demand and supply shortages faced by competitors. Sales have grown by 55% Y-o-Y vs. 3Q21, while the Company continued with the expansion and diversification of its distribution network, according to the sources.
The platform concluded further financial optimization of the Company, securing new facilities with favorable terms to support the company’s business growth in FY23 and onwards. Full facility upgrade plan remains well on track and is almost fully completed across all work streams; all upgrades of existing facilities are on track to be finalized by the end of 2022, setting up the necessary capabilities to drive the company’s upcoming growth plans.
UP continues to further expand its product portfolio by adding complimentary essential products (such as anesthetics, and higher value added injectables) to serve the hospitals segment; as well as synergistic hydro-based products serving the B2C segment.
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