In October 2021, through the consensual restructuring agreement achieved with Ascendis Health Ltd. Shareholders, L1 Health acquired Remedica Ltd. in a joint venture with Blantyre Capital.
Founded in 1980, Remedica is a leading pharmaceutical company in Cyprus, specialized in the development, manufacturing and sale of both complex and essential branded generics. Through the unique combination of established relationships with blue-chips pharmaceutical clients in Europe and direct access to hard-to-reach Emerging Markets, Remedica distributes its products to more than 160 countries globally.
Remedica developed from a family-owned business into a leading independent supplier of over 300 high-quality generic, branded generic and over-the-counter (OTC) products across multiple therapeutic areas such as oncology and antivirals. It holds over 4,000 marketing authorizations and operates 5 EU GMP-compliant manufacturing sites in Limassol with a tablet capacity of approximately 3.5bn p.a.
L1 brought immediately financial and governance stability to Remedica and allowed us to focus on executing the strategy to achieve Remedica’s highest potential.
With Governments globally focusing more and more on improving access to higher-quality medicine, while containing the overall cost of care, and Emerging Markets closing the gap with Developed countries on healthcare expenditure, Remedica is uniquely positioned to become one of the leading manufacturer and distributor of high-quality affordable complex generics.
The investment by L1 allows Remedica to benefit from a stable and supportive shareholder structure, access to deep operational and investment know-how in the pharma sector through a top-notch Board of Directors, as well as ample capital flexibility with access to additional long-term patient capital needed to accelerate investments in people, R&D and technologies.
For more information please visit the Remedica website.