EGYPT – Affirma Capital and StonePine ACE Partners Limited (StonePine) have acquired part of Nerhadou International for Pharmaceuticals and Nutraceuticals (Nerhadou) for US$20 million.

Affirma Capital and StonePine were supported by White & Case as legal advisors. At the same time, ADIB Capital acted as the lead sell-side advisor on behalf of Nerhadou, supported by Al Tamimi & Company as legal advisors.

Nerhadou is the first joint investment by Affirma Capital and StonePine Capital Partners in Egypt and is part of a broader Egypt-focused joint investment strategy,” the companies said in a release.

Nerhadou is a pioneer oral dispersible film (ODF) manufacturer in Egypt. It has had a very strong performance over the past 12 months delivering double-digit growth and

The manufacturer continues to grow and cement its position as a leading player across key nutraceutical product subsegments and ODF technology in Egypt.

It has an attractive product pipeline consisting of several innovative nutraceutical and pharmaceutical products, both in ODF and conventional dosage forms.

Following the recent acquisition, Nerhadou will use the funds to further build on its diverse portfolio.

Nerhadou will also leverage its investors’ regional and global expertise to solidify its market leadership position.

The company will leverage their global franchise to help it grow both organically and inorganically.

With fresh capital and a solid balance sheet, Nerhadou is very well-positioned to weather any macroeconomic uncertainty and focus on executing its growth plans.

The investment will help the Egypt-based manufacturer to strengthen its balance sheet for the future and to accelerate the roll-out of key growth initiatives.

Commenting on the successful closing of the recent financing round, Dr. Mohsen Shalaby, Chairman of Nerhadou, said: “We are excited to partner with Affirma Capital and StonePine to accelerate Nerhadou’s clear growth trajectory and bring the Company to IPO standards.”

He disclosed that the investors have already supported the manufacturer in identifying and executing several value enhancement initiatives.

Following regulatory approvals, Nerhadou has plans to execute its ambitious plan with its new partners, with an even stronger balance sheet.

Moreover, Affirma Capital and StonePine Capital Partners are committed to backing regional champions with solid management teams and founders including Nerhadou.

The companies are actively seeking suitable investment opportunities in Egypt and the broader Middle East and North Africa (MENA) region.

Furthermore, they have already opened an office in Cairo and hired a local investment team in ongoing efforts to unlock new opportunities in the MENA region.

For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.