Healthcare investment firm Quadria Capital invests in Indonesian pharma co SOHO
Monday, March 16, 2015
Indonesian pharmaceutical products company, PT SOHO Global Health (SOHO), has received funding from Asian healthcare investment firm Quadria Capital. The firm’s first private equity investment in Indonesia is aimed to increase access to differentiated medicines of high quality within Indonesia and the Southeast Asia region.
According to data from the Ministry of Health 2012, the number of pharmaceutical companies in Indonesia reached 206 companies, 39 of which are multinationals. The average drugs selling at the national level is growing 12-13 per cent annually. More than 70 per cent of the total drug market in Indonesia is dominated by domestic companies.
SOHO, which is based in Jakarta, develops, manufactures, and markets evidence based natural medicine, and over-the-counter products primarily for Indonesia. In 2013, SOHO set up a joint venture partnership with a leading multinational pharmaceutical business, Fresenius Kabi, principally for the production and sale of innovative pharmaceutical liquid injectable products, and branded generics.
The shareholder and commissioner of SOHO, Tan Eng Liang said: “SOHO is at an important juncture in its evolution where we have established ourselves as a leader of high quality medicines. Our partnership with Quadria will help us in our next phase of growth as we look to materially expand our portfolio of products and strengthen the company.”
The chief executive officer of SOHO, Rogelio (Cooey) La O’ added, “In addition to securing growth capital, we look forward to leveraging Quadria’s global network of relationships to expand our portfolio and drive new growth opportunities for the business.”
Commenting on the agreement, Quadria Capital managing partner Abrar Mir said, “SOHO has a strong legacy within the Indonesian pharmaceutical industry and we hope to grow the company even further with our involvement. We are excited to work alongside the Tan Family and support a stellar management team led by La O’. We look forward to working closely with them to help build out the business and create long-term value for all stakeholders.”
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