– Post-acquisition, Eurolife Healthcare, a market leader in the FFS Infusions business will own Baxter’s IV solutions plants in Maharashtra and Tamil Nadu.
Mumbai, October 21, 2016: Eurolife Healthcare, one of India’s leading specialty pharmaceuticals companies, has entered into an agreement to acquire the Form-Fill-Seal (FFS) Infusion business from Baxter India. Baxter India is a subsidiary of Baxter International, a leading global medical products company. The acquisition will allow Eurolife to consolidate its position as a prominent player in the Form-Fill-Seal (FFS) Infusions segment and expand its FFS infusion manufacturing capacity to meet the evolving needs of the domestic and global FFS infusion market segments.
Following the close of the transaction,Eurolife Healthcare will have an impressive pan-India FFS Infusions manufacturing presence in Maharashtra, Tamil Nadu and Uttarakhand. The expanded geographic footprint will enable Eurolife to service its extensive local distribution network more efficiently and it will substantially reduce time-to-market to distributors, hospitals and patients. It will also help meet the growing demand for Eurolife’s products from its export distribution network spread over 22 countries.
Speaking on the acquisition, Mr. Sandeep Toshniwal, CEO of Eurolife Healthcare, said “Eurolife is totally committed to making significant investments in the acquired facilities, in order to expand capacity to feed our flourishing FFS Infusions business both locally and globally.”
“We warmly welcome Baxter India’s employees and partners to the Eurolife family, and look forward to propelling Brand Eurolife to even higher levels together” Mr. Toshniwal added further.
The transaction is subject to customary closing conditions and is expected to close by the end of the year. Financial terms of the transaction are not being disclosed.
Corporate Comm India(CCI Newswire)
