ADQ injects new life into healthcare portfolio

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ADQ, an Abu Dhabi-based investment company, today announced it has agreed to acquire one of Turkey’s leading producers of sterile injectable products as part of plans to build an integrated healthcare and life sciences platform in the UAE.

The company said it has entered into a definitive agreement to acquire Birgi Mefar Group (BMG), a production service provider for vials and pre-filled syringes used for vaccines. 

BMG also produces primary packaging ampoules and vials for other sterile injectables and specialises in the growing demand for drug lyophilisation – the freeze-drying process that removes water from a product after it is frozen and placed under a vacuum. 

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The company exports to more than 30 countries, including markets across Europe and Asia.

“BMG’s diversified offering and manufacturing capabilities make the company a strategic addition to our growing portfolio as we continue to shape the UAE’s healthcare and life sciences platform,” Fahad Al Qassim, executive director, healthcare and life sciences portfolio at ADQ, said.

“Turkey is an important market for our investments, and BMG brings with it a strong presence throughout the pharmaceutical supply chain, from drug development and manufacturing to packaging and cold chain distribution.

“With this integrated capability we believe it can enhance local expertise and build on the UAE’s ability to manufacture and distribute quality health products as the region’s leading pharmaceutical hub.” 

Faik Somer, CEO at Birgi Mefar Group, added: “Joining ADQ’s portfolio is an exciting next step in our journey that will elevate our offering and enable us to scale in lucrative markets like the UAE and wider MENA region.

“With ADQ’s support we will be in a stronger position to deliver excellence in global contract development and manufacturing of sterile products that will ultimately generate long-term sustainable growth.” 

The deal will provide ADQ exposure to a fast-growing market of injectables and high-value treatments, such as vaccines as well as access to a wide customer network ranging from large multinationals to local and regional players. 

The acquisition will also enable BMG to join ADQ’s healthcare and life science portfolio that aims to enhance manufacturing, distribution and commercialisation capabilities, including the provision of sterile health products and injectable solutions.

Earlier this year ADQ acquired Acino, a Swiss-based pharmaceutical manufacturer with presence in more than 90 countries. 

In 2021 ADQ acquired Pharmax, a pharmaceutical manufacturer in the UAE, and Amoun, one of Egypt’s leading pharmaceutical companies.

ADQ also retains a minority stake in Biocon Biologics Limited, India’s largest biopharmaceutical company.

The transaction is subject to customary closing conditions, including regulatory approvals.

Established in 2018, ADQ’s investments span key sectors of the UAE’s economy including energy and utilities, food and agriculture, healthcare and life sciences, and mobility and logistics.