2022/01/05

BDA and William Blair advise Ritedose on its sale to Novo Holdings

Acquired by Novo Holdings

2022

We are pleased to announce the sale of The Ritedose Corporation (“Ritedose”) by a consortium led by European-Asian fund AGIC Capital to Novo Holdings A/S. BDA Partners and William Blair acted as financial advisors to Ritedose on the sale.

Founded in 1995 and headquartered in Columbia, South Carolina, Ritedose is a leading sterile pharmaceutical manufacturer, specializing in the use of blow-fill-seal (“BFS”) technology. Ritedose provides outsourced manufacturing of ophthalmology drugs, respiratory drugs, and vaccines. In addition, Ritedose develops and markets its own portfolio of generic drugs and is an emerging player in the outsourced sterile compounding market focusing on medically necessary drugs that are in short supply. Ritedose’s customers range from small startups and large pharmaceutical companies to wholesalers, retail pharmacies and hospital systems. Today, the company employs over 400 people and is led by Chief Executive Officer Jody Chastain, who will continue to run the company under Novo Holdings’ ownership.

Andrew Huntley, Managing Partner and Global Head of Healthcare at BDA, said: “This noteworthy deal continues the run of the pharma manufacturing services sector attracting strong investor appetite globally, especially for companies with differentiated capabilities such as Ritedose. I’m proud that BDA and William Blair could use our sector expertise and experience of numerous transactions in pharma services to help deliver this outcome for Ritedose and its shareholders.”

Anthony Siu, Partner & Co-Head of Shanghai at BDA, commented: “We are pleased to have helped AGIC successfully exit its investment after partnering with Ritedose in its growth over the past few years. As well as pharma services and CDMO, BDA has a strong track record across all the sub-sectors of healthcare with private equity firms and corporates in Asia.”

About AGIC Capital

Founded in 2015, AGIC is a European-Asian fund focused on investments in advanced industrial and healthcare technology companies and has more than US$2.2 billion of assets under management. It targets buyout and growth-stage investment in small- and medium-sized companies and employs customized, hands-on approaches to guiding and supporting portfolio companies in developing and executing market penetration plans. AGIC has offices in Munich, London, Hong Kong, Shanghai and Beijing. www.agic-group.com

About The Ritedose Corporation

Founded in 1995 in Columbia, South Carolina, The Ritedose Corporation is an industry leader in the aseptic manufacturing and liquid packaging of respiratory and ophthalmic products, utilizing proven blow-fill-seal (“BFS”) technology to ensure efficient, consistent and safe dosage delivery. The company’s 25-year track record includes the delivery of more than 8 billion doses since 2012 without a single recall, and its current capacity is over 2 billion units annually. In 2020, The Ritedose Corporation was selected as a subcontractor to ApiJect for the production of single-dose prefilled syringes intended for administering COVID-19 vaccines. www.ritedose.com

About Novo Holdings A/S

Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets. Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. www.novoholdings.dk

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com