Emma Healthcare Holdings

History

2023: LetterOne buys stake in Emma Healthcare Holdings

Investment holding LetterOne, affiliated with Mikhail Fridman and Peter Aven, buys from British partner Blantyre Capital a stake in Emma Healthcare Holdings, which owns two European pharmaceutical assets. As it became known in early February 2023, LetterOne becomes the sole owner of Remedica and Sun Wave Pharma.

LetterOne and Blantyre Capital gained control of Emma Healthcare Holdings - owner of Remedica and Sun Wave Pharma - in October 2021 as part of a restructuring of South African pharmaceutical holding Ascendis Health, RBC said. Cypriot Remedica specializes in the production of generics. This company operates five production sites located in Cyprus, and its products are available in 135 countries. In turn, the Romanian Sun Wave Pharma produces food additives: the range has more than 70 products. The company expects to open its own production in Romania.

Mikhail Fridman

The applications of the specialized division of the investment holding LetterOne L1 Health for the purchase of a stake in the Cypriot Emma Healthcare Holdings in early 2023 were published on their websites by the Competition and Consumer Protection Department of the Republic of Malta, as well as the Competition Protection Commission of the Republic of Cyprus, - said in the publication of RBC.

It is noted that L1 Health had to contact the Maltese antimonopoly authority due to the fact that the pharmaceutical asset Remedica has a representative office in the republic, and the British chain of healthy food stores Holland & Barrett, owned by the investment company LetterOne, has franchisees in this local market. It is assumed that one of the largest nutraceutical companies in Central and Eastern Europe may be formed on the basis of the assets of Remedica and Sun Wave Pharma.^[1]

Notes