Hong Kong, June 6, 2008 -- AIF Capital, one of the largest Asia-based independent private equity firms, is pleased to announce that AIF Capital Asia III, L.P. has invested US$31 million in BioPlus Life Sciences (“BioPlus”) of India.
BioPlus, headquartered in Bangalore, India, is a private label manufacturer of a wide range of healthcare supplement formulations for major European pharmaceutical and retail companies. BioPlus is currently also extending its market by adding an own brand portfolio of healthcare supplements for the Middle East, Eastern Europe and Asia. According to the Nutrition Business Journal, the global nutraceutical market grew 4.8% to US$68.3 billion in 2006. The growth outlook is expected to be even better in the developing markets, which are the focus areas of BioPlus’ own branded business.
Backed by its strong research and development capabilities, BioPlus has also developed several new healthcare products. Two that will be ready for commercial launch in 2008 with significant market potential are:
• An anti-osteoarthritis drug that is under final stages of approval for marketing in Europe, and
• A globally established high intensity sweetener positioned as a second source of supply in a near monopolistic global market.
The company’s active involvement in research and development of other new products also serves to present future significant business opportunities.
BioPlus is well positioned to benefit from long-term demographic changes that create opportunities for new healthcare products. The company’s unique positioning as a research driven business in a low cost manufacturing location like India augurs well for its growth.
“BioPlus is an exciting addition to AIF Capital’s portfolio and the investment reinforces our confidence in the growth prospects in the healthcare sector in Asia,” said Peter Amour, AIF Capital’s Chief Executive Officer. “BioPlus’ growing and cash generative existing business also provides a useful platform to nurture its team’s research skills. We are optimistic about new product launches and look forward to working even more closely with BioPlus to achieve further success.”