Sabex Joins Forces with RoundTable Healthcare Partners
RoundTable to Invest in Sabex Global Expansion Strategies
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Boucherville, Québec, April 22, 2002 — Sabex Inc. (“Sabex”), Canada’s leading generic, injectable pharmaceutical manufacturer, announced today that RoundTable Healthcare Partners, L.P. (“RoundTable”) has acquired a majority stake in Sabex. RoundTable is an operating-oriented private equity firm focused on the healthcare industry. Sabex President Michel Saucier will retain a substantial ownership stake in the company and serve as Sabex’s Chief Executive Officer and Vice Chairman. Financial terms of the transaction were not disclosed.
“Our new partnership with RoundTable presents very exciting opportunities for Sabex,” said Michel Saucier. “RoundTable brings proven healthcare operational expertise to assist in the successful implementation of Sabex’s global strategies. RoundTable has long-standing industry relationships and is facilitating major new investments in the company. Their support and guidance will allow Sabex, a strong Canadian company, to expand globally at an accelerated rate.”
“We are very excited to partner with Sabex,” said Jack McGinley, a founding partner of RoundTable and the newly appointed Chairman of the Board of Sabex. “Sabex has a tremendous track record of success. The entire management team and employees were key attractions for us. We view Sabex’s Québec-based operations as an ideal platform to build a leading, global specialty pharmaceuticals company.”
Specifically, company officials said Sabex will make a significant capital investment in its manufacturing operations in Boucherville, Québec to better serve the Canadian customers and expand into new markets. Sabex will also accelerate its research and development activities in Boucherville.
“We view this development as an important milestone for Sabex,” Saucier said. “Sabex will continue our long-standing commitment to serve our Canadian customers through a continuous flow of new products and high quality service, while at the same time expanding our presence in new markets throughout Europe and in the United States.”
Sabex Inc. is a leading manufacturer and distributor of generic injectable pharmaceuticals. Formed in 1980, Sabex develops, manufactures and distributes generic small volume injectables, ophthalmics, suppositories, and other pharmaceutical products in Canada, the U.S. and other international markets. Sabex’s FDA-approved manufacturing facilities produce generic drugs in many critical specialty product categories, including cardiovascular, analgesics, psychotherapeutics, anti-infectives and parenteral nutrition.
RoundTable Healthcare Partners, Lake Forest, Ill, is an operating-oriented private equity firm focused on the healthcare industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified healthcare companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.