LaborMed Pharma, a Romanian pharmaceutical manufacturer owned by private equity giant Advent International, has acquired the brand and product portfolio of Ozone Laboratories, a local rival.
Advent acquired LaborMed in March 2008, and is a specialist in cardiovascular medicines. The acquisition of Ozone’s portfolio will see its product range grow to include 400 over-the-counter and prescription generic drugs sold in Romania, Poland, Hungary, Bulgaria and the Czech and Slovak Republic.
The deal does not include any Ozone Laboratories companies, but does include the brand name, associated intellectual property and distribution channels.
It is the third transaction this year which has seen an Advent portfolio company in Central & Eastern Europe build their business through acquisitions. FleetCor, a US fuel card issuer with a Czech subsidiary (formerly known as CSS ), acquired Kansas-based Corporate Lodging Consultants in March, and the following month Poland’s largest debt purchase business Ultimo bought a portfolio of non-performing consumer loans.