RoundTable News

RoundTable Healthcare Partners Announces Sale of Sabex Holdings Sandoz

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LAKE FOREST, IL, June 7, 2004 — RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that it has entered into a definitive agreement to sell Sabex Holdings Ltd. (“Sabex”), a leading Canadian generic pharmaceutical manufacturer to Sandoz for $565 million. Sandoz, a Novartis company, is a world leader in generic pharmaceuticals and develops, manufactures, and markets these medicines as well as pharmaceutical and biotechnological active ingredients. RoundTable acquired a majority interest in Sabex in April 2002.

Based in Boucherville, Quebec, Sabex is a leading Canadian manufacturer and distributor of generic injectable pharmaceuticals with growing activities in the United States and other international markets. Sabex’s FDA-approved manufacturing facilities produce generic drugs in many critical specialty product categories.

Jack McGinley, Founding Partner of RoundTable and Chairman of the Board of Sabex said, “Our investment in Sabex exemplifies RoundTable’s strategy of partnering with owner/founders and strong management teams to create growth and value. The Sabex team, led by founder and former majority shareholder Michel Saucier and current CEO Pierre Fréchette, working together with RoundTable, have grown the company’s revenue and profitability significantly and established Sabex as a leader in the North American generic injectable pharmaceuticals market. We believe Sandoz is an ideal partner for Sabex and its employees.”

Mr. McGinley added, “Together, we have also succeeded in creating tremendous value for all of Sabex’s shareholders. The sale of Sabex will deliver our limited partners a significant multiple of their invested capital.”

Sabex founder and Vice Chairman Michel Saucier commented, “RoundTable has been an exceptional partner to Sabex over the past two years. By capitalizing on their industry relationships and operating expertise, they have helped to strategically position Sabex in our markets and to facilitate our growth and profitability. RoundTable also accelerated our capital investment program considerably to increase the manufacturing capacity of the business and capitalize on our growth potential. Sabex is very well positioned to continue to be successful in the future, as it has been in the past.”

About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. RoundTable’s investment strategy targets companies in the health-care industry that fall within the expertise and experience of the firm’s operating principals. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable currently manages $400 million of equity capital, and has four other platform portfolio companies. More information about RoundTable Healthcare Partners and its investments can be found at