Richard Wang, the Chairman of Humanwell Healthcare Group, stated that “This acquisition continues to broaden our global investments consistent with our strategy for the creation of a truly global pharmaceutical company for Humanwell Healthcare Group”.
“This acquisition is a major step in the growth of our company. In addition to strong and growing OTC and Branded Business units in the US, this acquisition along with our recent acquisition of Blu Pharmaceutical LLC & Blu Carib Inc., firmly establishes Humanwell and PuraCap in the US Generic Rx Pharmaceutical segment. The PuraCap US footprint continues to expand our tablet, softgel, 2-piece capsules, cream, and powder product portfolio,” stated Dahai Guo, CEO of PuraCap and also President of Humanwell USA LLC. “The addition of Epic is an important addition to the PuraCap family. We look forward to it being a platform for the development of our generic pharmaceutical business, both in the USA as well as internationally”.
Under the terms of the agreement, the acquisition is subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, obtaining approval of Humanwell stockholders, obtaining various filing notices and registrations from certain governmental entities in the People’s Republic of China, and other customary conditions. The parties expect the transaction to close in the second quarter of 2016.
China Merchants Bank New York Branch is the Bookrunner and Mandated Lead Arranger in this transaction. Nomura served as financial advisor and Fox Rothschild LLP served as U.S. legal counsel to Humanwell and PuraCap. Jefferies LLC served as financial advisor and Hughes Hubbard & Reed LLP served as U.S. legal counsel to Epic.
About Humanwell Healthcare Group
Humanwell Healthcare (Group) Co., Ltd is a fully integrated life science company that focuses on investing, developing and managing healthcare companies. It was founded in 1993 and has been listed on the Shanghai Stock Exchange since 1997 (ticker: 600079,SH). With a market capitalization of US$3.5 Billion, it is recommended for its top investment value by institutional investors.
Humanwell invests in companies who are leaders in anesthetics, CNS, reproductive biological medicines, herbal medicines, and diagnostics and medical devices in China. In 2015, Humanwell Healthcare Group achieved $1.6 billion in operating revenue, through both organic growth and expansion through acquisitions. Go to www.renfu.com.cn for more information.
About PuraCap Pharmaceutical LLC
PuraCap Pharmaceutical LLC is a New Jersey based fully integrated pharmaceutical company with expertise in product development, manufacturing, and bringing affordable, world-class quality products to their customers. The PuraCap corporate structure supports a three-pronged approach for global growth with dedicated companies in the areas of prescription brands (PuraCap Pharmaceutical) as well as prescription generics and OTC and private label brands (PuraCap International LLC). PuraCap continues to innovate using soft gel expertise developing other soft gel and oral solid dosage options. Go to www.puracap.com for more information.
This news release includes forward-looking statements. Some examples of forward-looking statements include statements regarding the timing and closing of the Epic acquisition, the ability of Humanwell and PuraCap to complete the Epic acquisition considering the various closing conditions, and any assumptions underlying the foregoing. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Risks and uncertainties include general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which PuraCap and Humanwell do business, fluctuations in costs, changes to the competitive environment due to consolidation or otherwise, uncertainties as to how Humanwell stockholders may vote on the pending transaction, and the possibility that various closing conditions to the Epic acquisition may not be satisfied or waived (including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the acquisition, or that a material adverse effect occurs with respect to Epic). Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements.