Advent International- one of the largest and longest serving independent private equity partnerships have aggressive investment plans for Life Sciences and Pharma Companies in Hyderabad. The life sciences sector is important to Advent and the infrastructure in Telangana is critical to their aspirations.
Hon’ble Minister Mr. KT Rama Rao’s met with the Managing Partner of Advent International, Mr. John Maldonado to discuss about Advent’s strategy and plans for Healthcare and Pharmaceutical sector in India and Hyderabad. During the meeting, Hon’ble Minister welcomed Advent’s investment of Rs. 1750 Crores in Hyderabad through acquisition of controlling stakes in Hyderabad based RA Chem Pharma Ltd and Avra Laboratories. Mr. Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Dept. and Mr. Shakthi M Nagappan, Director Lifesciences, Government of Telangana were also present during the meeting.
The private equity firm has acquired a controlling stake in Hyderabad-based RA Chem Pharma Ltd from Bengaluru-based Micro Labs Ltd. Founded in 2003 in Hyderabad, RA Chem is a vertically integrated Active Pharmaceutical Ingredient player, also engaged in manufacturing of pellets, B2B formulations and clinical studies. Further, Advent International has acquired a controlling stake in Avra Laboratories. Avra Labs is headquartered in Hyderabad and engaged in contract manufacturing and research services and speciality active pharmaceutical ingredients.
Together, Advent is investing ~USD 23 million (INR 1750 Crores) in acquiring RA chem pharma Ltd and Avra labs. Between the two companies, there are 6 manufacturing units and 3 R&D units employing over 2500 people.
Advent International is one of the largest and longest-serving independent private equity partnerships. Since it was founded 1984, they have invested $61 billion in 390 private equity investments across 42 countries in sectors such as Healthcare, Business & Financial Services, Technology, Retail and Industrial.
Hon’ble Minister Mr. K.T Rama Rao said that “I’m delighted to learn that Advent is bullish on Pharmaceutical Sector in Hyderabad. The government of Telangana will be collaborating with Advent to promote and present other lucrative investment opportunities which can be explored by the firm and offer all necessary support to grow Advent’s presence in Hyderabad.