October 7, 2024/NGX
MeCure Industries Plc announced the company’s successful acquisition of a 10% equity stake by Zrosk Investment Management Ltd. The transaction, which was conducted off-market, has been finalised following approval from the Nigerian Exchange Group (NGX).
This move aims to strengthen MeCure Industries Plc’s capital base and accelerate its growth trajectory. The partnership with Zrosk Investment Management Ltd would provide financial backing and a shared vision to expand and enhance MeCure’s footprint in the pharmaceutical and healthcare sectors.
According to the co-CEO of MeCure Industries Plc, Arjun Udani, “We are delighted to welcome Zrosk Investment Management Ltd as a key shareholder in MeCure. This investment reflects 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.”
The Managing Director/Chief Investment Officer of Zrosk Investment Management Ltd, Samson Esemuede, expressed his excitement about the partnership, saying: “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 level 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”
The transaction aims to improve operational efficiencies and provide greater access to resources necessary for advancing its market position.
