The sale supports NextPharma's growth strategy of focusing on its core specialty and conventional product and technology operating platform in Europe. NextPharma continues to expand its sales and marketing presence in North America and to develop long-term partnerships with North American customers.
"The divestment of Bioserv represents a successful step in the implementation of NextPharma's strategy, enabling us to focus our growth strategy on NextPharma's core strengths and areas of expertise,” said Franck Latrille, CEO of NextPharma. “I would like to thank Bioserv's employees for their efforts and contributions over the past years, and I wish each of them, as well as Bioserv's customers and new owners, a successful future."
Al Hansen, managing partner, KESA Partners, added, "This is an exciting time for Bioserv. For almost 20 years, Bioserv has been known for its quality, flexibility and responsiveness to customers' unique requirements. Bioserv is well positioned to benefit from the increased out-sourcing in the pharmaceutical industry. Bioserv has a strong foundation to build upon and to add capabilities to its current service offering. By enhancing our capabilities and emphasizing excellence in quality and execution. Bioserv will become a leader in the contract manufacturing space."
Wells Fargo Securities served as financial advisor to NextPharma. Much Shelist served as legal advisor to NextPharma.