Malaysia’s government-owned private equity company Ekuiti Nasional (Ekuinas) has acquired a controlling stake in local drug firm Medispec for an undisclosed sum, marking its first investment in the pharmaceutical industry.
The acquisition was based on an enterprise value of 88.5 million ringgit (US$21.82 million) for Medispec, Ekuinas says in a statement on February 3. It did not disclose the size of the stake.
“Ekuinas’ entry into the healthcare and pharmaceutical space is timely as we look to capitalise on global megatrends and demographic shifts amid the emergence of Covid-19,” Chief Executive Officer Syed Yasir Arafat Syed Abd Kahir says in the statement.