Fonds Cauriss CroissanceII invests in Cipharm

Abidjan, Cote d’Ivoire, April 2014: FONDS CAURIS CROISSANCE II LIMITED, advised by Cauris Management, the West African fund manager agreed to invest in CIPHARM to fund a new production line for injectable pharmaceutical products. CIPHARM is a Cote d’Ivoire-based leading pharmaceutical company with revenues derived from 12 countries across west and central Africa. The company has been in operations for over 25 years and manufactures a broad range of generic pharmaceuticals (dry forms, syrups and powder) under its own brand names as well as licensed names. Fonds Cauris Croissance II Limited’s investment will allow the company to diversify its range of products with injectable pharmaceuticals, for which there is an increasing demand combined with a severe lack of local production. Commenting on this investment, Mr Ibrahima Diawara, CEO of CIPHARM said: “Fonds Cauris Croissance  investment will take the business to the next level through: 1. the launch of new products including hemodialysis solutions 2. new technical partnerships 3. the strengthening of governance and an improvement in the relationship with banks ”   “This partnership with CIPHARM is an opportunity for Cauris Management to support a leading pharmaceutical company in its growth and diversification strategy. The economic and population growths in the region generate increased needs for healthcare products and solutions, which need to be delivered it is important to address with quality and affordable care. Cauris Management will also assist the company in improving its environmental, social and governance standards” notes Mr Thierry Vissého Gnassounou, Partner at Cauris Management.   About Cauris Management Cauris Management is a private equity fund manager that has been investing in West African SMEs for 18 years. Cauris Management backed 46 companies and completed 36 exits during that period. The portfolio includes various sectors: agribusiness, financial services, hospitality, ICT, consumer goods, and downstream oil and gas. Cauris Management operates from Lomé and Abidjan.