MeCure Industries Plc (the Company), one of the nation’s pharmaceutical companies quoted on the Nigerian Exchange Limited (NGX) has announced the acquisition of a 10 per cent equity stake in the company, by Zrosk Investment Management Limited.
According to the company’s press statement, the transaction, which was conducted off-market, has been finalized following approval from the Nigerian Exchange Group (NGX).
The company noted that the partnership with Zrosk Investment Management Limited brings financial backing and a shared vision to expand and enhance MeCure’s footprint in the pharmaceutical and healthcare sectors.
Commenting on the acquisition, Co-CEO of MeCure Industries Plc, 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.
“With Zrosk’s support, we are well-positioned to execute our ambitious expansion plans and continue positively impacting the healthcare sector in Nigeria and beyond.”
The Managing Director/Chief Investment Officer of Zrosk Investment Management Limited, Samson Esemuede, expressed his excitement about the partnership: “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 an extremely high level of pharmaceutical product price inflation.”