Marks the first private equity investment into an Indonesian pharmaceutical company
SINGAPORE-26th January 2015- PT. SOHO Global Health (SOHO), a leading reputable Indonesian pharmaceutical products company, today announced an agreement under which Quadria Capital, a leading Asian healthcare investment firm, will make an investment into the Company.
SOHO (together with its wholly-owned companies, “SOHO Global Health Group”), based in Jakarta, develops, manufactures, and markets evidence based natural medicine, and over-the-counter products primarily for Indonesia. In 2013, SOHO set up a joint venture partnership with a leading multinational pharmaceutical business, Fresenius Kabi, principally for the production and sale of innovative pharmaceutical liquid injectable products, and branded generics. Further, the Company maintains leadership in the natural medicines through professional and over-the-counter channels. With strong marketing capabilities and leading partnerships on the ground, the Company and Quadria are well positioned to use the investment to increase access to differentiated medicines of high quality within Indonesia and the Southeast Asia region.
The shareholder and Commissioner of SOHO, Tan Eng Liang said, “SOHO is at an important juncture in its evolution where we have established ourselves as a leader of high quality medicines. Our partnership with Quadria will help us in our next phase of growth as we look to materially expand our portfolio of products and strengthen the company.” Tan also said, “We thank our German partners at Fresenius Kabi, who are investors in our joint venture Ethica Fresenius Kabi, for furthering SOHO’s ability to serve Indonesia as a pharmaceutical business with the highest standards.”
The Chief Executive Officer and President Director of SOHO, Rogelio (Cooey) La O’ added, “The management team is very excited about the Company’s future given our strong pipeline of products, capabilities on the ground, and a motivated team that has been put into place. In addition to securing growth capital, we look forward to leveraging Quadria’s global network of relationships to expand our portfolio and drive new growth opportunities for the business.”
Commenting on the agreement, Quadria Capital Managing Partner Abrar Mir said, “SOHO has a strong legacy within the Indonesian pharmaceutical industry and we hope to grow the Company even further with our involvement. We are excited to work alongside the Tan Family and support a stellar management team led by Mr. La O’. We look forward to working closely with them to help build out the business and create long-term value for all stakeholders.”
Quadria’s investment in the Company represents its second announced investment from Quadria Capital Fund LP and its first private equity investment in Indonesia. The transaction is subject to corporate approvals and other customary closing conditions.
About SOHO GLOBAL HEALTH GROUP
SOHO Global Health Group is one of Indonesia’s largest pharmaceutical and healthcare corporations in manufacturing, commercialization, and provision of quality health products and services. The corporation consists of SOHO Global Health Group Commercial and SOHO Global Health Group Healthcare in addition to a joint venture business, Ethica Fresenius Kabi. The SOHO Global Health Group’s principal products include Natural & Traditional Medicine Products, Medical Device, Raw Material Trading, and Commercialization and Logistics services.
The SOHO Global Health Group focuses on manufacturing – including under-licensed – herbal products (including immunomodulator, antioxidant, anti-diarrhea, laxatives). SOHO Global Health Group supports commercialization of pharmaceutical and healthcare products for Group companies, and other pharmaceutical and consumer goods manufacturers.
For further information, please visit the Group’s website at http://www.sohoglobalhealth.com/
About QUADRIA CAPITAL
Quadria Capital is an independent private equity group based in Singapore that invests into the high growth healthcare sectors of some of the world’s fastest growing economies in Southeast and South Asia.
Quadria Capital seeks to make meaningful, positive impact by increasing access to affordable, high quality healthcare to underserved populations that need it the most. Quadria Capital believes that responsible investment is critical to long term, sustainable value creation in the region, and that its goals of both “doing good” and “doing well” are not just compatible, but in fact mutually reinforcing.
For further information, please visit Quadria’s website at www.quadriacapital.com
Media Contacts:
SOHO Global Health (Jakarta)
e-Mail: Public.Relations@sohoglobalhealth.com
Quadria Capital (Singapore)
e-Mail: media@quadriacapital.com