- Post-acquisition, Eurolife Healthcare, a market leader in the FFS Infusions business will own Baxter’s IV solutions plants in Maharashtra and Tamil Nadu.
Mumbai, October 20, 2016: Eurolife Healthcare, one of India’s leading specialty pharmaceuticals companies, has entered into an agreement to acquire the Form-Fill-Seal (FFS) Infusion business from Baxter India. Baxter India is a subsidiary of Baxter International, a leading global medical products company. The acquisition will allow Eurolife to consolidate its position as a prominent player in the Form-Fill-Seal (FFS) Infusions segment and expand its FFS infusion manufacturing capacity to meet the evolving needs of the domestic and global FFS infusion market segments.
Following the close of the transaction, Eurolife Healthcare will have an impressive pan-India FFS Infusions manufacturing presence in Maharashtra, Tamil Nadu and Uttarakhand. The expanded geographic footprint will enable Eurolife to service its extensive local distribution network more efficiently and it will substantially reduce time-to-market to distributors, hospitals and patients. It will also help meet the growing demand for Eurolife’s products from its export distribution network spread over 22 countries.
Speaking on the acquisition, Mr. Sandeep Toshniwal, CEO of Eurolife Healthcare, said “Eurolife is totally committed to making significant investments in the acquired facilities, in order to expand capacity to feed our flourishing FFS Infusions business both locally and globally.”
“We warmly welcome Baxter India’s employees and partners to the Eurolife family, and look forward to propelling Brand Eurolife to even higher levels together” Mr. Toshniwal added further.
The transaction is subject to customary closing conditions and is expected to close by the end of the year. Financial terms of the transaction are not being disclosed.
About Eurolife Healthcare Pvt. Ltd.
Eurolife Healthcare Pvt. Ltd. is an India-focused specialty pharmaceuticals company that manufactures and distributes an exclusive portfolio of allopathic formulations, FFS Intravenous Infusions and ophthalmics. Eurolife has set a blazing pace of growth since its inception in 2001. The company's distribution presence extends across India and globally, and is a key supplier of FFS Infusions in markets in the entire Asia – Pacific region, CIS and Latin America. Thanks to their world-class manufacturing facilities combined with stringent quality standards, Eurolife’s products enjoy the highest acceptance wherever they have been marketed. Eurolife’s facilities have been audited and approved by several international authorities.
Eurolife recently received an investment from Orbimed Advisors, a leading investment firm dedicated exclusively to the healthcare sector with approximately $15 billion in assets under management for a minority stake in the company.
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