The strategic merger will create Sri Lanka’s first fully integrated healthcare company starting from manufacturing up to retailing of healthcare products, including last-mile distribution across the country for all healthcare products.
The company will be operating in all five segments of the healthcare supply chain, namely R&D, manufacturing, importation, distribution and retail.
Sri Lanka’s Sunshine Holdings Plc said it was acquiring Akbar Pharmaceuticals (Pvt) Ltd for a 25 percent stake in its own pharma unit, Sunshine Healthcare (Pvt) Ltd.
Akbar Brothers would also buy an additional 3 percent stake in Sunshine Healthcare for 278.4 million taking their stake to 28 percent, SHL said in a stock exchange filing.
Sunshine Holdings, which had a 100 percent stake in the unit, which is a private company, will see its share going down to 72 percent.
Akbar Pharmaceutical Pvt Ltd in an importer and distributor of pharmaceutical products, medical devices and nutritional products. (Colombo/Dec17/2020)