Business a.m.
Zrosk Investment Management Limited’s strategic investment in MeCure Industries Plc has officially come to fruition, with the 10 percent equity stake successfully acquired in an off-market transaction.
The transaction, which took place outside the standard public markets, was sanctioned by the Nigerian Exchange Group (NGX), marking the beginning of a new chapter for both companies.
With NGX approval secured, Zrosk Investment Management is now positioned to reap the benefits of MeCure Industries’ growth potential, while MeCure Industries gains a strategic investor and partner, paving the way for continued success in the Nigerian pharmaceutical industry.
With a clear mission to drive growth in often overlooked markets across Africa, Zrosk Investment Management has carved out a niche as a leading African-focused multi-asset investment management company.
Zrosk Investment Management stated that its investment in MeCure Industries is firmly rooted in its commitment to identifying and supporting businesses that have the potential to make a significant, positive impact in Africa and beyond.
By investing in MeCure Industries, Zrosk Investment Management believes that it is not only supporting the growth of a thriving pharmaceutical company, but also contributing to the advancement of Africa’s healthcare sector as a whole.
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.
Samson Esemuede, managing director of Zrosk Investment Management, expressed his belief that the investment in MeCure Industries would prove to be a profitable venture, given the thorough due diligence process undertaken by his organisation prior to 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 stated.
Arjun Udani, co-chief executive of MeCure Industries, expressed his enthusiasm for Zrosk Investment Management’s involvement in the company.
“We are delighted to welcome Zrosk Investment Management Ltd as a key shareholder in MeCure.
“This investment reflects the confidence in our long-term growth strategy and our commitment to delivering quality healthcare solutions to millions of Nigerians.
“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,” he stated further.
