Published: August 3, 2011
Turkish pharmaceutical to expand following buy-out.
NBGI Private Equity and Ethemba Capital have bought a controlling stake in Turkish pharmaceuticals contract manufacturer Birgi Mefar for an undisclosed sum.
The Istanbul-based group’s chief executive, Ustun Baharoglu, joined the private equity firms in the deal to take control of the business that focuses on injectable products.
Baharoglu said the deal will enable the group to expand into new areas in Turkey and internationally.
This is NBGI’s second investment in the country. Mete Ikiz, a senior manager based in Istanbul, said the case for investing in Turkey’s healthcare market is compelling due to significant healthcare reform in the country.