SINGAPORE — Singapore-based healthcare-focused private equity firm, Quadria Capital, has sealed a landmark pharmaceutical deal in Indonesia with its latest investment in PT. Soho Global Health (SGH), one of the country’s leading pharmaceutical companies.
The multi-million dollar transaction, in partnership with the German development finance institution DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbh, is the first private equity deal in Indonesia’s fast-growing pharmaceutical industry.
The funds will be used to create access to innovative, differentiated drugs through in-licensing from developed markets, acquire strategic assets and support the growth of the medical device sector.
The consortium’s investment will also help prepare the company for changes in Indonesia’s healthcare policies such as the introduction of the national health insurance (Jaminan Kesehatan Nasional – JKN) and public procurement of drugs through e-Katalog, aimed at driving greater accessibility and affordability of medicines in Indonesia.
SGH currently manufactures, markets and distributes evidence based natural medicines, prescription and over-the-counter (OTC) products across Indonesia, a country of over 250 million people with a rapidly growing middle class. SGH has established a loyal customer base through its broad product portfolio that includes household brands such as Curcuma Plus, Diapet, Fitkom and Laxing in the OTC market as well as Imboost, Asthin, Curvit and Oste in the prescription market.
SGH also operates several high quality, GMP-compliant manufacturing facilities in Indonesia, capable of producing a wide range of dosage forms. As a leading pharmaceutical player, SGH also has one of the country’s strongest distribution network covering over 80% of hospitals and 90% of pharmacies in Indonesia. In 2013, SGH also entered into a strategic joint venture with global pharma player, Fresenius Kabi, to establish the IV drugs and infusion solutions leader in Indonesia.
