Advent International acquires Labormed Pharma

Advent International acquired LaborMed Pharma, one of the 20 largest pharmacy producers in Romania, from its founders.

LaborMed Pharma SA (www.labormedpharma.ro)
LaborMed Pharma, based in Bucharest, manufactures and distributes generic pharmaceuticals primarily for cardiovascular and central nervous system aliments. The company recently launched a portfolio of drugs for diabetes.

Founded in 1991, LaborMed has its own distribution arm (LaborMed Pharma Trading) through which it sells direct to over 80% of the country’s pharmacies and wholesalers. The LaborMed Pharma distribution network comprises eight warehouses that directly supply to 3,500 pharmacies and 400 hospitals.

The company had sales of € 28 million and employed 470 people in 2007.

Advent International (www.adventinternational.com)
Advent International is one of the longest established international private equity firms in Central Europe and has since 1994, backed 32 companies in seven countries. These include BTC, the Bulgaria Telecommunications Company acquired by AIG and Terapia, the Romanian generic pharmaceuticals manufacturer.

Advent’s Central Europe team has 13 investment professionals in London, Warsaw, Prague (covering Czech Republic, Slovakia and Hungary), Bucharest (covering Romania, Bulgaria and Turkey) and Kiev, and 11 investment professionals in its Turkish investment partner, TurkVen.

Advent International has been investing in the pharmaceuticals sector for over 20 years. In addition to LaborMed, selected investments include Fada Pharma S.A, Argentina’s leading manufacturer of generic pharmaceuticals acquired by Polygon Labs; Viatris, a branded pharmaceuticals business acquired my Meda; and Terapia, Romania’s largest independent generic pharmaceuticals manufacturer acquired by Ranbaxy Laboratories Ltd.