Pharma firm Eurolife Healthcare has acquired the Form-Fill-Seal (FFS) Infusion business from Baxter India for an undisclosed sum.
Baxter India is a subsidiary of Baxter International -- a global medical products company. Post-acquisition, Eurolife Healthcare, a market leader in the FFS Infusions business, will own Baxter's IV solutions plants in Maharashtra and Tamil Nadu, a company statement said here.
The acquisition will allow Eurolife to consolidate its position as a prominent player in the FFS Infusions segment and expand its FFS infusion manufacturing capacity to meet the evolving needs of the domestic and global FFS infusion market segments.
Following the closire of the transaction, Eurolife Healthcare will have a pan-India FFS Infusions manufacturing presence in Maharashtra, Tamil Nadu and Uttarakhand. The expanded geographic footprint will enable Eurolife to service its local distribution network more efficiently and ubstantially reduce time-to-market to distributors, hospitals and patients, it said.
It will also help meet the growing demand for Eurolife's products from its export distribution network spread over 22 countries.
Sandeep Toshniwal, CEO of Eurolife Healthcare, said :
"Eurolife is totally committed to making significant investments in the acquired facilities, in order to expand capacity to feed our flourishing FFS Infusions business both locally and globally.
"We welcome Baxter India's employees and partners to the Eurolife family, and look forward to propelling Brand Eurolife to even higher levels together."
The transaction is subject to customary closing conditions and is expected to be over by the end of the year.
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