FIMI Opportunity Funds (FIMI) has signed an agreement to acquire 50% of Pharm-Up Ltd. at a valuation of NIS 170 million. FIMI founder and CEO Ishay Davidi said, "The investment in Pharm-Up is based on FIMI's confidence in its great potential and its area of business. Medical logistics and related services require expertise and excellence. FIMI, which in the past was a controlling partner in Orian and is currently a partner in Overseas Commerce, has the experience and know-how to offer a company in these fields."
Pharm-Up chairman Shaul Kobrinsky said, "FIMI's becoming an equal controlling partner is a vote of confidence in the company and its management, and greatly strengthens the ability to meet the growth and operating expansion challenges planned for the years ahead. We believe that teaming with the extensive experience and knowledge of FIMI's managers in improving companies will result in Pharm-Up's further growth and development."
Pharm-Up provides medical logistics and services for pharmaceuticals, medical equipment, and clinical trials. The company offers its clients a range of logistics and other services, including the import, storage, distribution, and collection from one of the world's most advanced computer facilities located at the Modiin Industrial Zone.
Published by Globes [online], Israel business news - www.globes-online.com - on September 8, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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