2023-05-12 19:16:08
Casablanca. Mediterrania Capital Partners, a private equity management firm dedicated to mid-market companies in North and Sub-Saharan Africa, is pleased to announce its acquisition of a stake in Laprophan (www.laprophan.com) – one of the leaders in the pharmaceutical industry in Morocco – via its MC IV fund, alongside the German development finance institution DEG, Proparco and FMO.
Founded in 1949 by Abderrahim Bennis, Laprophan is a pioneering pharmaceutical company which today positions itself as one of the undisputed leaders in the manufacture, distribution, import and export of pharmaceutical products in Morocco. Laprophan distributes both its own brand products and finished products imported from major international laboratories, offering patients and healthcare professionals a wide range of medicines covering more than 40 specialties. The laboratory also exports its products to more than 30 countries in Africa and the Middle East and benefits from an internationally recognized brand image in the region.
Through this investment, the consortium aims to support Laprophan’s growth and expansion plans, in the context of the recent generalization of compulsory health insurance (AMO) in Morocco, the number of beneficiaries of which has doubled over the past few years. 12 months to reach 22 million beneficiaries, as well as the growing demand for generic drugs in Morocco and in Sub-Saharan African countries.
Albert Alsina, Founder and CEO of Mediterrania Capital Partners, said: “We thank our long-standing partners, DEG, Proparco and FMO, for their trust and financial support, which have played a crucial role in the success of this important transaction. We are very happy
to join forces and collaborate with Laprophan’s leadership team to accelerate the growth of the business.”
Hatim Ben Ahmed, Managing Partner of Mediterrania Capital Partners, added: “Laprophan, thanks to its excellent management team, its strategic orientation focused on innovation and its deep determination to make medicines more accessible in Africa and the Middle East, constitutes a ideal investment opportunity, with a view to both value creation and impact. »
Farid Bennis, CEO of Laprophan, added: “We are very pleased to join forces with Mediterrania Capital Partners and its co-investors to jointly write a new chapter in Laprophan’s development plan. This partnership will allow us to considerably strengthen our offer, thus contributing to the improvement of public health and the reinforcement of our presence on an international scale. »
Laprophan has mandated Ascent Capital Partners and GBL as financial and legal advisers, respectively, in the context of this transaction. Mediterrania Capital Partners and the co-investors were accompanied by the legal firm ASAFO & Co and by Deloitte.
Mediterrania Capital Partners has been present in Morocco since 2013 and has made investments in high growth companies there such as Akdital Holding, Cash Plus, CECI, Dislog Industries, Indigo Company, MedTech, TGCC and Private University of Marrakech.
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