Mexico’s Sanfer acquires biotech company Probiomed
Probiomed, one of the leading vertically integrated biotech companies in Mexico, was acquired by Sanfer earlier this month, to complement the former’s product portfolio, given Probiomed’s specialization in biotechnology products.
Probiomed was founded in 1970, the company develops biotechnological medical solutions, from the research to the finished products, in Mexico.
From its three production plants located in Mexico City and Tenancingo, in neighboring Mexico state, Probiomed exports and sells a portfolio of 30 chemically synthesized generics and nine biotechnology products for the prevention and treatment of chronic degenerative diseases such as rheumatoid arthritis, diabetes, multiple sclerosis, chronic renal failure and various types of cancer.
Sanfer was established in 1941 and in 1959 was acquired by Dr. Ernesto Amtmann, who turned the business into what it is today as the Sanfer Group, and which comprises 12 companies and more than 7,000 employees in Mexico, Argentina, Chile, Colombia, Ecuador and Peru.
Sanfer stated that its incursion into the biotechnology field will contribute to reducing its technological dependence in that area, by manufacturing instead of importing and strengthening the current platform that Probiomed offers.
In addition, Sanfer will seek in the short term to establish commercial and technology transfer agreements that will allow the arrival of state-of-the-art biotechnology products to Mexico.
Probiomed was advised on the transaction by Zimmer Oaklins as financial advisor in the debt restructuring under Chapter 11 proceedings in Mexico, as well as in the structuring of the acquisition by Sanfer, and described the deal as a step forward toward the improvement of the quality of life of the two companies’ patients.
ZIMMA | OAKLINS acted as the Financial Advisor to Probiomed in the debt restructuring, as well as in the structuring of the acquisition by Sanfer.
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