Lenmed Health Pty Ltd has sold a 65% stake in Pharmed Pharmaceutical Pty Ltd to Imperial Holdings Limited for US$10 million.
Pharmed Pharmaceutical Pty Ltd distributes pharmaceutical and other healthcare products in South Africa. The company was founded in 1985 in Overport, Durban by a group of healthcare professionals from previously disadvantaged communities.
Imperial Holdings Limited is a JSE-listed, South African-based international group of companies active in three major areas of mobility: consumer and industrial logistics, vehicle import, distribution, dealerships, retail, rental and aftermarket parts and vehicle-related financial services. The company employs around 52,000 people who generate revenues in excess of US$7.5 billion per year in Africa, Europe, South America, Australia and the USA through five major divisions which operate under separate management structures to enable decentralized entrepreneurial creativity within the group’s clearly defined strategic, capital, budgetary and governance principles.
Lenmed Health is an established black owned hospital group in South Africa, operating multi-specialty hospital facilities in South Africa, Mozambique and Botswana and managing in excess of 1,300 beds.
Oaklins' team in South Africa advised the seller in this transaction.
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