PHARMACY MARKET

H.I.G. Capital Acquires Aspire Pharma

Aspire | September 24, 2021

H.I.G. Capital, LLC, a leading global alternative investment firm with $45 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Aspire Pharma Limited, a leading UK provider of niche generic and branded specialty pharmaceuticals, alongside its founder Graham Fraser-Pye. The financial terms of the transaction have not been disclosed.

Aspire licenses and develops niche generic and specialty pharmaceutical products that offer innovative formulations, value for money for payors, and reliable supply arrangements in markets that are often underserved. The business holds leadership positions in urology, ophthalmology, CNS and dermatology, with a highly diversified portfolio of more than 250 products across multiple categories, including branded specialty products and unbranded niche generics. H.I.G., together with the management team, aims to continue Aspire’s strong track record of organic growth and to support new initiatives, such as M&A and international expansion. The existing management team of Aspire Pharma will remain in place, with Graham Fraser-Pye taking the role of Chairman.

I am very pleased to welcome H.I.G. as a key investor in the future of Aspire Pharma. Since our foundation in 2009, we have grown rapidly and consistently through our astute strategic choices and extensive development know-how. H.I.G., with its significant financial and geographic reach, will help us maintain our impressive growth trajectory and take Aspire into another exciting phase for its people and customers. We remain committed to the development and supply of innovative products and medicines that offer value to our customers and make a difference to the lives of patients.

- Graham Fraser-Pye

We are delighted to be supporting Graham and his team to further build upon Aspire’s success. The Company’s track record of identifying, developing and launching niche pharmaceutical products, coupled with H.I.G.’s international presence and history of supporting organic and acquisitive growth in its portfolio companies, underpins an exciting next chapter for Aspire.

- John Harper, Managing Director and Head of the H.I.G. Europe Lower Middle Market LBO team in London

About Aspire
Aspire was founded in 2009. Aspire has an asset-light business model that focuses on R&D, business development and sales and marketing, while outsourcing manufacturing and distribution to specialist third parties.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $45 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S. and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach

Spotlight

The social, demographic and economic context in which the pharmaceutical industry (Pharma) operates is changing dramatically, as we noted in “Pharma 2020: The vision”, the White Paper PricewaterhouseCoopers* published in June 2007 (see sidebar, Seven major trends reshaping the pharmaceutical marketplace).1 All these challenges have major ramifications for the way in which Pharma markets and sells the medicines it develops – the subject on which we shall focus here. The industry has traditionally relied on aggressive marketing to promote its products. One recent study estimates that, between 1996 and 2005, total real spending on pharmaceutical promotions rose from US$11.4 billion to US$29.9 billion in the US (the only country for which expenditure on all major marketing and sales activities is available).2 Another study suggests that the true figure (including meetings and e-promotions) is closer to US$57.5 billion in real terms.

Spotlight

The social, demographic and economic context in which the pharmaceutical industry (Pharma) operates is changing dramatically, as we noted in “Pharma 2020: The vision”, the White Paper PricewaterhouseCoopers* published in June 2007 (see sidebar, Seven major trends reshaping the pharmaceutical marketplace).1 All these challenges have major ramifications for the way in which Pharma markets and sells the medicines it develops – the subject on which we shall focus here. The industry has traditionally relied on aggressive marketing to promote its products. One recent study estimates that, between 1996 and 2005, total real spending on pharmaceutical promotions rose from US$11.4 billion to US$29.9 billion in the US (the only country for which expenditure on all major marketing and sales activities is available).2 Another study suggests that the true figure (including meetings and e-promotions) is closer to US$57.5 billion in real terms.

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