Philippines: Healthtech venture Philab to acquire controlling stake in pharma firm SLI

Source: Philab Holdings Corp

Philippine-based healthcare technology company Philab Holdings Corp has approved plans to acquire a 67 per cent stake in local pharmaceutical firm Sydenham Laboratories Inc (SLI).

The investment is in line with Philab’s goal to foray into precision medicine. 

“The future of pharmaceuticals will be personalized through your genetic make-up. It is the goal of Philab Holdings through the acquisition of Sydenham Lab to lead in precision medicine and pharmacogenomics in Asia,” Philab Holdings chairman and president Tom Navasero said.

Philab disclosed its plan to acquire the stake in SLI after its board of directors approved the sale of 100 million common shares out of its unissued authorized capital stock, pegged at $5 million (P250 million), to Epitrek Ventures Ltd.

With this transaction, Epitrek’s stake in Philab will increase to 9.2 per cent. Proceeds will be used to fund the company’s growth capital, expansion plans and healthcare-related acquisitions.

SLI has been in the pharmaceuticals industry for over 40 years and is the country’s only manufacturer of hormone-based drugs, specialising in oral drug preparation in other forms such as tablet, capsule, syrup and powder. It also produces food additives served in rural schools.

“The acquisition of Sydenham Lab enables Philab Holdings to broaden our service offering to the Filipinos. SLI’s specialty in manufacturing pharmaceutical products will enhance our product services, especially in providing universal healthcare for the Filipinos and expanding the generics line,” Navasero added.

Also Read:

Philippines: Alterra Capital raising $36m in new public bid

Philab nears backdoor listing as Alterra Capital takes 93% stake

Indonesia: Venturra Capital invests in HK precision medicine firm Prenetics

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.