Cinven, an international private equity firm, has reached an agreement to acquire Theramex, a London-based specialty pharmaceutical company focused on women’s health, from Carlyle and PAI Partners.
The acquisition will support Theramex’s continued expansion across international pharmaceutical markets and strengthen its portfolio of treatments addressing menopause, osteoporosis, contraception, and fertility.
Theramex develops, licenses, and commercializes pharmaceutical products designed to address healthcare needs affecting women at different stages of life.
The company employs more than 500 people and markets its products in over 80 countries across Europe, Africa, Asia-Pacific, and Latin America.
Its treatments have reached more than six million women worldwide.
Cinven has followed Theramex’s development for several years and established relationships with the company’s management team before pursuing the acquisition.
The private equity firm identified opportunities to expand Theramex’s existing product portfolio, enter additional markets, and acquire or license complementary pharmaceutical products.
Under the new ownership structure, Cinven intends to support the company’s efforts to increase access to women’s healthcare treatments through international commercialization and product development.
Theramex maintains established positions in several specialty pharmaceutical categories.
Its menopause business addresses symptoms and health concerns associated with hormonal changes, while its osteoporosis portfolio focuses on conditions involving reduced bone strength and increased fracture risk.
The company also provides products supporting contraception and fertility treatment.
Cinven views these therapeutic areas as markets with significant unmet medical needs, particularly where patients remain undiagnosed or undertreated.
The firm’s investment strategy will focus on broadening Theramex’s geographic presence and expanding its pipeline through in-licensing arrangements.
Theramex has experience introducing pharmaceutical products through partnerships with other healthcare companies and integrating complementary portfolios.
These activities have helped the company build a diversified international commercial platform.
Theramex is led by CEO Robert Stewart, who will continue working with the company’s management team and Cinven on its next stage of development.
The acquisition builds on Cinven’s investments in healthcare businesses, including Regenity, Nutrisens, LGC, STADA, and Synlab.
Cinven intends to draw on its experience in pharmaceutical and healthcare investing to support Theramex’s operational development and international growth.
The proposed transaction remains subject to customary regulatory approvals and other closing conditions.
KEY QUOTE:
“Theramex combines a market-leading position in women’s health with a resilient commercial model and a clear, credible growth strategy. Its portfolio is well positioned for further expansion across geographies, and its track record of in-licensing and successfully bringing innovation to healthcare professionals and patients provides a strong foundation to further broaden the range of treatments available to patients. We are delighted to be partnering with Rob and his team and look forward to working with them to build on Theramex’s success and support its international ambitions.”
Philipp Meyer, Partner In The Healthcare Sector Team At Cinven
“Women’s health is a large and growing area of healthcare that has historically been underserved, and Theramex has established itself as a leader in addressing it. Under Rob’s leadership, the team has built a high-quality, diversified platform with an impressive track record of launching innovative treatments and delivering for patients. We are excited to partner with the Theramex team as they continue to broaden access to care for women, both in Europe and further afield, and we look forward to supporting Theramex through its next phase of growth.”
Pontus Pettersson, Partner And Head Of The Healthcare Sector Team At Cinven
“Women’s health has been underserved for too long. Theramex treatments make a real difference to women at every stage of life, and we are proud to play a part in its next chapter.”
Anastasya Molodykh-McFarlane, Senior Principal In The Healthcare Sector Team At Cinven
“We are delighted to welcome Cinven as our new partner as we begin the next chapter of the Theramex story. Our mission has always been to be a lifetime partner for women and the healthcare professionals who treat them, and over the past few years we have built a diversified, high-performing platform with a strong pipeline of new treatments. Cinven’s deep healthcare expertise, long-term approach and support for our strategy will help us to accelerate our growth in Europe and internationally and, most importantly, to bring better treatment options to more women.”
Robert Stewart, CEO Of Theramex
