Monday, February 18, 2013

Vivimed Acquires Finoso Pharma for $2.8M

Finoso Pharma is a full-service Formulation Research and Development services company that partners with global pharmaceutical companies in formulation development and regulatory registration programs.
The transaction involves Rs 10 crore payable in cash include few tranches in milestone payments besides stock worth Rs 5 crore. 


Transaction Valuation

The deal is valued at 2.9 times Revenue and 9.3 times EV/EBITDA. In FY12,  Finoso pharma recorded revenues of Rs 5.2 crore and EBITDA of Rs 1.6 crore.
This is the third acquisition in the last 18 months for Vivimed, which counts Jacob Ballas and Kitara Capital as PE investors.

Finoso is located in Alexandria Techno Park in Hyderabad and will become a R&D unit of Vivimed to support its innovators, generics and licensing efforts. In FY12, the company recorded revenues of Rs 5.2 crore and EBITDA of Rs 1.6 crore.
Vivimed Labs had raised Rs 127 crore from PE funds NYLIM Jacob Ballas India Fund and Kitara Capital in late 2011. The company has made two acquisitions previously including majority stakes in Octtantis Nobel Labs Pvt Ltd and bulk drug and intermediates firm Uquifa.

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