AGIC Capital acquires US pharmaceutical company Ritedose for $600 million
Launched in 2015, AGIC has become an established private equity fund, which has grown significantly within the last year. Spanning into sectors such as robotics, energy generation and manufacturing, AGIC has ventured into the healthcare sector through the $600 acquisition of US pharmaceutical leader The Ritedose Corporation.
This is in addition to an earlier acquisition of Fontana from US based The Gores Group. The company specialises in high performance lasers for medical, dental and aesthetic applications across Europe and the US, with the aim to expand into the Chinese market.
So, who are AGIC Capital?
The Asian-European private equity firm continually invests in a multitude of sectors, driving innovation in a number of different areas. Established by China banker Henry Cai, the company has acquired Ritedose through US private equity firm Olympus Partners in a $600 million deal, which also includes all outstanding debt.
Ritedose, established in 1995, has become renowned for its blow-fill-seal (BFS) manufacturing – a process in which “plastic containers are blow-moulded, filled with liquid product and sealed in one continuous operation under aseptic processing conditions,” according a press release.
A report by Market & Markets has stated that the pharmaceutical packaging market was valued at $65.55 billion in 2015, but will reach $94.93 billion by 2021. Such news highlights the value of the health industry and long-term return on investment.
Henry Cai, Chairman of AGIC has commented: “AGIC Capital is the world’s first cross-border interactive investment fund focused on Asia, Europe and the US. Our strategy is to select European and US small to medium enterprises with the world’s advanced high-tech, and has great potential in Asia/China.”
“Ritedose fulfils AGIC’s investment criteria, and AGIC will work together with the company’s top-notch management team to bring Ritedose to the next stage of growth.”
Sam Sun, Managing Director and Head of Greater China for AGIC commented: “With the investment and management support from AGIC’s healthcare team, Ritedose will be able to navigate through the regulatory approvals it needs to accelerate its expansion in the US and move into new markets in Europe and Asia, in particular China and Japan where demand for BFS in respiratory medicine is increasing.”
The company has opened up a new office in London this year, increasing its footprint within the healthcare industry across the globe, supporting business growth and expansion throughout the world.
Family doctors should give COVID vaccine, survey finds
A new survey has found that doctors believe patients would be more open to receiving the COVID-19 vaccine if it was administered by a trusted doctor.
The research by Sermo, a social media network for clinicians, was carried out among 3,329 physicians from around the world. It found that nearly 70% said that if they could administer the vaccine to reluctant patients themselves, they believe they would feel more comfortable about getting vaccinated.
Additionally, nearly half of the people surveyed said that their ability to discuss the benefits of vaccination and answer patients' questions during appointments could help increase their willingness to get vaccinated.
The survey results are released as infection rates rise among people who have not received the vaccine. In the US Dr Rochelle Walensky, director of the US Centers for Disease Control and Prevention has called the latest surge "a pandemic of the unvaccinated".
Sermo’s COVID-19 Real Time Barometer also showed 65% of physicians believe that vaccinating children is essential for long-term control of the virus. Other findings include:
* 55% of physicians say their patients are more reluctant to vaccinate their children than themselves due to fear of adverse effects
* 60% believe a one-dose vial that administered at their office during appointments would be beneficial in continuing to administer vaccinations
* 81% believe that paediatricians and family doctors are in the best position to vaccinate children
Respondents also said resources and information should be created to educate their patient base and parents about the importance of getting vaccinated.
“Our survey reveals that physicians worldwide feel strongly that they can and perhaps, should, play a very important role in driving COVID vaccination uptake,” said Peter Kirk, Sermo's CEO.
“The trust they have built with their patients, combined with the ability to counsel, answer questions, ease concerns and provide assurances could help patients overcome their hesitancy to be vaccinated. Allowing physicians to vaccinate their own patients has the potential to increase vaccine rates.”