Catalyst Principal Partners, a private equity firm focused on East Africa, has picked up Zenufa Laboratories, Tanzania’s second-largest generic drug maker.
Terms of the deal weren’t disclosed.
Zenufa manufactures a wide range of over-the-counter and prescription medicines for the Tanzanian market, and was the first facility in the country to be certified as 100% cGMP compliant.
“While the healthcare sector remains dominated by foreign imports representing majority of Tanzania’s medicine supply, as an established local pharmaceutical manufacturer, Zenufa is uniquely positioned to meet the rising healthcare needs of the population through offering affordable, quality medication manufactured to the highest international best practice standards,” Martha Osier, a Catalyst investment manager, said in a statement.
The Zenufa purchase represents Catalyst’s fourth investment in Tanzania and its second in the healthcare sector. It bought Mimosa Pharmacy in 2014, which now operates under the name “Goodlife Pharmacy” and is rapidly expanding its pharmacy retail business.
- here’s the release
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