KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has divested its 75% equity interest in pharmaceutical products distributor Medispec (M) Sdn Bhd to an undisclosed leading Malaysian pharmaceutical group.
The divestment of Medispec, which Ekuinas acquired in 2021, delivered the government private equity firm a net internal rate of return of 36.9% and money multiple of 3.5x, it said.
According to the statement issued by Ekuinas, Medispec started its business in Penang as a marketing agent for Biolab Thailand, and since then on-boarded many international pharmaceutical companies onto its portfolio to become one of the leading pharmaceutical and healthcare products distributors in Malaysia
"Under Ekuinas’ stewardship, Medispec recorded a Compound Annual Growth Rate (CAGR) in revenue and Ebitda of 19.5% and 11.1% respectively from FY2021 to FY2024.
"This growth was driven by joint initiatives between Ekuinas and the Medispec management teams, enhancing value through product diversification, sales, branding, talent development, and governance," said Ekuinas CEO Datuk Syed Yasir Arafat Syed Abd Kadir.
Following the divestment, he said Ekuinas will redeploy capital towards new investment opportunities in high-growth sectors.
