Ekuiti Nasional (Ekuinas), a private equity company owned by the Malaysian government, has acquired a controlling stake in a local pharmaceutical company, Medispec, an enterprise valued at MYR88.5 million (US$21.9 million).
With a track record spanning more than 35 years, Medispec is a leading distributor of healthcare and pharmaceutical products in Malaysia across clinics, pharmacies, and private and public hospitals. It offers more than 100 drugs and 30 supplements under both prescription and over-the-counter categories.
Malaysian firm Skrine advised Ekuinas, with the team led by partners Fariz Abdul Aziz and Sheba Gumis. “It has been a privilege to support Ekuinas on such a significant transaction, and I am extremely proud of my team, who were able to rise to the challenges involved in negotiating and completing a deal during a period of substantial logistical restrictions,” Aziz told Asia Business Law Journal.
The team was supported by senior associate Karyn Khor, associates Alia Abdullah, Jeralyn Kan, Francine Ariel Paul, Ann Marie Siaw, Ting Shi Jing, and Grace Mah.
Ekuinas’ entry into the pharmaceutical industry is timely as it looks to capitalise on global trends and demographic shifts arising from the pandemic. The company has undertaken cumulative investments in 42 companies since its inception in 2009, representing a total investment of MYR4 billion.