US private equity investment firm ACON Investments has announced a definitive agreement to sell Colombian medical materials firm Vitalis to Mexican multinational Laboratorios Sanfer, according to the Washington-based investment firm.
Financial details were not disclosed, and the transaction remains subject to approval by the Colombian and Mexican antitrust authorities, along with other closing details.
Vitalis, a near-50-year-old manufacturer and wholesaler of injectable products used in hospitals, medical institutions and pharmacies across Latin America, has over 700 individual product registrations in more than 20 therapeutical areas.
“The team at Vitalis is enthusiastic to begin this new era of growth, consolidating its position as a key player in the Latin American pharmaceutical market,” said Alberto Hernandez, a partner at ACON. “We are confident that Sanfer’s experience, know-how and leadership will exponentially boost the company’s growth and expansion plans.”
ACON, along with other co-investors, acquired 100% of Vitalis in May 2021, per the company.
“During ACON’s investment, and thanks to the great effort of the Vitalis team, the company rapidly increased sales and profitability as it opened new commercial channels, upgraded all of its manufacturing facilities across Colombia, Mexico and Chile, made important investments in quality control and safety, and implemented industry-leading environmental, social and governance standards,” said Jose Miguel Knoell, managing partner at ACON.
He added that he expects Vitalis to “continue its mission of supplying high-quality, efficient, and secure pharmaceutical products across Latin America, maintaining a focus on patients.”