MeCure Industries Plc has announced the successful acquisition of a 10 per cent equity stake in the company, by Zrosk Investment Management Limited.
The Company in a notice on the Nigerian Exchange Limited said “the transaction, which was conducted off-market, has been finalised following approval from the Nigerian Exchange Group. This strategic investment marks a significant milestone for MeCure Industries as it continues to strengthen its capital base and accelerate its growth trajectory.
“The partnership with Zrosk Investment Management, a prominent player in the investment management space, brings not only financial backing but also a shared vision to expand and enhance MeCure’s footprint in the pharmaceutical and healthcare sectors.”
Speaking on the acquisition, co-CEO of MeCure Industries, Arjun Udani stated, “we are delighted to welcome Zrosk Investment Management Ltd as a key shareholder in MeCure. This investment reflects the confidence in our long-term growth strategy and our commitment to delivering quality healthcare solutions to millions of Nigerians.”
Udani added that “with Zrosk’s support, we are well-positioned to execute our ambitious expansion plans and continue making a positive impact on the healthcare sector in Nigeria and beyond.”
The managing director/chief investment officer of Zrosk Investment Management, Samson Esemuede stated, “one of our core convictions at Zrosk IM is that ownership of industrial capacity on the African continent is shifting towards indigenous hands.
“We view the stock market as a theatre of such transition, and we see Mecure Industries as a potential dominant player in the pharmaceutical value chain on the continent.
“We were drawn to Mecure Industries’ commitment to domesticate pharmaceutical industrial and intellectual capacity which we view as critical especially within the context of extremely high level of pharmaceutical product price inflation.”
He noted that “from our analysis, Mecure Industries can deliver products in critical therapeutic areas at a unit cost that helps drive affordability across the population. We are thus proud to be a part of this journey and look forward to supporting Mecure’s ambitious current and future plans.”
MeCure Industries said that this transaction aims to improve operational efficiencies, and provide greater access to resources necessary for advancing its market position.
MeCure Industries is a leading pharmaceutical company dedicated to producing high-quality medicines and healthcare products. With a state-of-the-art manufacturing facility and a focus on innovation, MeCure is committed to improving access to affordable healthcare solutions across Nigeria.
