Midrand – In line with its declared strategy to pursue value-adding acquisitions, particularly in less-regulated areas, Adcock Ingram has concluded a Share Purchase Agreement to acquire 100% of the shares of Genop Holdings Proprietary Limited and its subsidiaries.
Genop is a highly specialised instrument, surgical and pharmaceutical products company focussed on the ophthalmic, optometry, skincare, aesthetic and plastic surgery segments in Southern Africa. Genop owns and markets the Epi-max skin care range, which has high awareness amongst consumers and healthcare professionals alike, as well as having a strong presence in the broader dermatological area and has been one of the market leaders in the optical instruments and ophthalmic field for over 90 years.
“We consider the Genop acquisition to present an attractive investment opportunity for Adcock Ingram, as the range is complementary to our existing portfolio with very little overlap,” said Andy Hall, Chief Executive Officer of Adcock Ingram. “This acquisition also offers diversification into a less regulated area of the healthcare market with many products in the portfolio falling outside the regulated single exit price environment.”
The acquisition is subject to regulatory approvals and other conditions typical for a transaction of this nature.