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Washington, DC, May 24, 2016
—IFC, a member of the World Bank Group, will invest up to $30 million in Ascendis Health Limited, a South Africa-based, Johannesburg Stock Exchange listed emerging global leader in life sciences, wellness and nutrition products, to promote access to affordable generic pharmaceuticals and medical products in developing countries.
IFC financing will support the company’s plans to acquire Remedica, a generic pharmaceutical company with a presence in over 100 countries and about 80 percent of its sales in emerging markets. Remedica is a major supplier of pharmaceuticals to United Nations agencies and non-governmental organizations active in medical relief. Ascendis also plans to acquire Scitec, a leading European sports nutrition company that sells its products in nearly 90 countries globally. The products and distribution networks offered by the three companies complement each other, making it possible for the combined group to offer a broader range of health products to more people who need them.
“We are excited to have IFC as a long-term strategic partner”, said Dr. Karsten Wellner, CEO of Ascendis. “We are impressed with IFC’s global network of relationships across a diverse range of stakeholders and we look forward to working together with them, capitalizing on their global pharmaceutical expertise as they help us grow and expand our global footprint”.
“Demand for better health goods and services is growing rapidly amid rising incomes and aging populations in developing countries, and IFC is committed to bringing affordable high quality healthcare into Africa and other emerging markets,” said Mary-Jean Moyo, head of IFC Manufacturing, Agribusiness, and Services in sub-Saharan Africa. “This investment fits within IFC’s strategy for improving supply of high-quality medical products in developing countries by helping efficient manufacturers and distributors grow and enter new markets.”
IFC is the world’s largest multilateral investor in private healthcare, managing an active portfolio of about $1.3 billion worth of health investments. IFC investments in service providers, pharmaceuticals and medical technology are aimed at promoting greater access to affordable, high-quality healthcare.
About Ascendis Health Limited
South African based Ascendis Health is a fast growing health and care company selling a portfolio of market-leading brands for animals, plants and humans. Founded in 2008 and listed on the Johannesburg Stock Exchange since 2013, the group’s strategy is based on organic, acquisitive and synergistic growth locally and internationally. The group is increasingly focused on internationalisation and Ascendis brands are currently exported to more than 50 countries globally. For more information, visit
www.ascendis.co.za
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About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
.
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