CAURIS CROISSANCE II FUND INVESTS IN CIPHARM
The Cauris Croissance Fund II, managed by Cauris Management, the West African private equity fund manager, has acquired a stake in the capital of the pharmaceutical company CIPHARM. The purpose of this investment is to finance the development of its injectable forms business.
Description of CIPHARM Laboratory
CIPHARM is the Ivorian leader in pharmaceutical production, present for more than 25 years in the production of generic drugs (dry form, powder and syrup), own brand or licensed. The production of the CIPHARM laboratory is distributed in a dozen countries in West and Central Africa.
What is Cauris Management’s investment in the CIPHARM laboratory?
The investment of Fonds Cauris Croissance II will enable CIPHARM to expand its offer with the development of injectable form activity, a market insufficiently served by local production.
Commenting on the acquisition of Cauris’ stake, Ibrahima Diawara, President of CIPHARM said: “The entry of Cauris Croissance II Funds into CIPHARM’s capital will give the company a new dimension, in particular:
- increased business volume through new investment and the introduction of new products including strategic products such as hemodialysis solutions for renal failure;
- an new technical partnerships;
- and strengthening corporate governance and improving relations with the financial world “.
The partnership with CIPHARM is an opportunity for Cauris Management to support the Ivorian leader in pharmaceutical production in its strategy of growth and diversification. The economic and demographic growth of our countries is leading to a continuous increase in the need for health care, which must be addressed through the provision of quality health care at a reasonable cost. Cauris Management will also support CIPHARM in improving its environmental, social and governance practices,”explains Thierry Vissého Gnassounou, Associate Director at Cauris Management.