HIG Capital’s portfolio company Aspire Pharma has acquired UK generic and branded specialty pharmaceuticals Morningside Healthcare and Morningside Pharmaceuticals.
Established in 1991, Morningside focuses on developing and licensing niche generic pharmaceutical products. It has over 160 SKUs across more than 80 product families including g Endocrine, Psychiatry, CNS, Infectious and Gastro.
HIG will combine Morningside with Aspire to build on their combined track record of organic growth, product development, and support new initiatives.
Rohin Jain, managing director of HIG European middle market and head of healthcare in Europe, added: “A combined Aspire and Morningside bring greater scale, breadth and diversity across products, geographies, and sales channels. Together, they are uniquely positioned to build on their strong relationships with relevant stakeholders to continue developing and supplying branded medicines and generics specifically designed and differentiated to offer patient and physician benefits. We look forward to supporting Aspire and Morningside in expanding their reach for the benefit of local health systems and patients.”
Jefferies International Limited acted as financial advisor and Kirkland & Ellis International LLP acted as legal counsel to HIG.
|Sale price (USDm):||n/a|
|Lead buyer(s):||HIG Capital-backed Aspire Pharma|
|Buyside legal advisor:||Kirkland & Ellis International|
|Sellside legal advisor:||n/a|
|Entity being sold:||Morningside Healthcare and Morningside Pharmaceuticals|