Supporting the growth of Vitalis and facilitating access to affordable medicines in Latin America

Vitalis is a family-run company set up in 1978. It has become the leader in the production and marketing of generic injectables (transfusions and injections) in Colombia. Vitalis is today vertically integrated (4 factories in Colombia and 2 in Mexico). It markets 155 molecules in about 20 countries in Latin America, as well as in Africa and Asia, and distributes over 150 million low-cost medicines a year.

It involves a USD 19.7m investment to finance the acquisition of 100% of the shares of the company and its growth. This acquisition is being conducted through a co-investment with the manager ACON (ACON V vehicle, for which PROPARCO is the LP, it is the 3rd co-investment with this manager, after Hidrotenencias and Biosidus), FMO and DEG for a total amount of USD 100m. 

Through this operation, Proparco will support the growth plan of Vitalis (implementation of an Environmental and Social Action Plan to improve production processes and align them with AFD Group’s standards) and a new Corporate Governance Plan. This operation will thereby improve access to affordable medicines in Latin America. 

The project should create or maintain nearly 4,400 jobs jobs over the next 5 years, including 1,450 jobs at Vitalis. Women should account for almost two-thirds of jobs in the company. In this respect, the project is eligible for the 2X Challenge initiative, a collective commitment by development finance institutions like Proparco to invest in strengthening the economic role of women.

The project should thereby contribute to SDG 3 (Good health and well-being”), SDG 8 (“Decent work and economic growth”) and SDG 9 (“Industry, innovation and infrastructure”).