By Dipo Olowookere
The ambitious expansion plans of MeCure Industries Plc are gradually coming to fruition with the acquisition of a 10 per cent equity stake in the pharmaceutical firm by a notable stakeholder in the investment management space, Zrosk Investment Management Limited.
A statement from the Chief Financial Officer of MeCure, Ifedamola Oluwasegun, disclosed that the transaction is expected to improve operational efficiencies and provide greater access to resources necessary for advancing its market position.
The Managing Director of Zrosk Investment Management, Mr Samson Esemuede, expressed confidence that the investment in the healthcare firm would yield value to his organisation because of its analysis before the investment.
“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 levels of pharmaceutical product price inflation.
“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,” he commented.
On his part, the co-chief executive of MeCure, Mr Arjun Udani, while welcoming Zrosk Investment Management as a key shareholder in MeCure, said, “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.”
“This investment reflects the confidence in our long-term growth strategy and our commitment to delivering quality healthcare solutions to millions of Nigerians,” he said further.
Business Post reports that the acquisition of the equity stake in MeCure by Zrosk was conducted in an off-market deal on the floor of the Nigerian Exchange (NGX) Limited.
Modupe Gbadeyanka