Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, has acquired a stake in Moroccan pharmaceutical company Laprophan through its fund MC IV, alongside Germany’s development finance institution DEG, Proparco and FMO.
Founded in 1949 by Abderrahim Bennis, Laprophan distributes its own branded products and imported finished products from large international laboratories, providing patients and healthcare professionals with a wide range of medical drugs covering over 40 specialties. Laprophan also exports products to more than 30 countries across Africa and the Middle East and is an internationally renowned brand in the region.
Through its investment, the consortium aims to support Laprophan’s growth and expansion plans triggered by the recent generalisation of Morocco’s compulsory health insurance scheme (AMO), which has doubled the number of beneficiaries in the last 12 months to reach 22 million people, and the rise of demand for generic drugs in Morocco and Sub-Saharan markets.
Laprophan was advised by Ascent Capital Partners and GBL, its financial and legal advisors, respectively. Mediterrania Capital Partners and the co-investors obtained legal advice from ASAFO & Co.
