KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has invested in a bumiputera manufacturer of sterile parenteral pharmaceutical products Ain Medicare Sdn Bhd via Ekuinas' RM1 billion Tranche IV fund.
In a statement today, the government-linked private equity firm said it will acquire a strategic minority shareholding in the company.
"This aligns with Ekuinas' mandate to scale bumiputera enterprises operating in strategic sectors that contribute to Malaysia's long-term economic resilience," it said.
Ekuinas chief executive officer Aliff Omar Mohamad Omar said, recognising healthcare as a priority industry for Ekuinas, the pharmaceuticals subsector plays a key role in higher-value industrial growth and national resilience.
"Ain Medicare has established itself as a homegrown leader in sterile parenteral products, with a proven 30-year track record, diversified customer base and strong research and development pipeline.
"This investment underscores the importance of strategic partnerships and collaboration across government-linked investment funds and their portfolio companies in building resilient, competitive and future-ready Malaysian enterprises," he said.
Meanwhile, Ain Medicare chairman Datuk Wan Ariff Wan Hamzah said the partnership marks an important milestone for the company, as it is poised to accelerate its strategic growth plans by leveraging Ekuinas' capital and institutional expertise.
"We look forward to working closely with Ekuinas to elevate Ain Medicare to the next level of scale and competitiveness," he added.
Founded in 1993 and headquartered in Kota Bharu, Kelantan, Ain Medicare has built a niche focus on sterile parenteral pharmaceutical products and operates seven manufacturing facilities in Kota Bharu and Kulim.
Employing close to 1,400 staff who are predominantly bumiputera, Ain Medicare is one of the largest private employers in Kelantan, supporting more than 100 Malaysian small and medium enterprises across logistics, packaging, engineering and technical services through its own vendor development initiatives. - Bernama
