Belgrade, Serbia — October 11, 2024 — Nikolovski & Co is proud to announce our role as the exclusive sell-side advisor in the successful sale of Bioclinica, a leading direct-to-consumer brand in the pharmaceutical industry in the Balkan region, to Inpharm and Sun Wave Pharma, prominent pharmaceutical companies in Serbia and Romania, respectively. Both Inpharm and Sun Wave Pharma are portfolio companies of LetterOne, a global private equity firm. This strategic acquisition will enhance the direct-to-consumer capabilities of both Inpharm and Sun Wave Pharma, while accelerating the development of their proprietary product portfolios.
As the sell-side advisor, Nikolovski & Co originated and facilitated the transaction, providing expert guidance and strategic insights throughout the process. Our team’s comprehensive industry knowledge and strong relationships were essential in achieving a successful outcome and completing the transaction.
Key highlights of the transaction include:
- Synergistic Opportunities: The transaction leverages complementary strengths to enhance marketing channels and expand product offerings.
- Strengthened Market Position: The combined entities will bolster their presence in key markets, offering an expanded range of products to customers.
- Customer-Centric Vision: Both parties are committed to driving innovation, positioning themselves as leaders in customer excellence, and delivering high-quality products to the market.
“We are thrilled to have played a pivotal role in this significant transaction,” said Marko Nikolovski, Managing Director of the firm. “The transaction between these entities represents a transformative opportunity in the pharmaceuticals sector in Serbia, Montenegro and Bosnia and Herzegovina, and we look forward to seeing the positive impact it will have on the industry and customers in the region.”
“We are truly excited about this transaction and the partnership that will continue to develop our products and brand. I am confident that Inpharm and Sun Wave Pharma will fully leverage the potential of the Bioclinica brand and its products in the markets where we operate,” said Mrs. Špadijer, founder of Bioclinica. “We are also immensely grateful to have worked with Nikolovski & Co as our trusted advisor throughout this complex process, guiding us from the initial idea of selling the business to the successful closure of the transaction with Inpharm and Sun Wave Pharma.”
For further details about the transaction and our services, please visit our website at www.nikolovskiandco.com, or contact via email office@nikolovskiandco.com.
About Nikolovski & Co
Nikolovski & Co (NCO) is a leading mid-market M&A advisory firm in Serbia, specializing in a broad range of industries. NCO offers comprehensive services, including M&A advisory, valuation advisory, and capital raising advisory, to both local and international companies.
About Bioclinica
Bioclinica has been a trusted name in the pharmaceutical and cosmetic products market for over 20 years. The company sells its products across the Balkan region. For more information, visit: www.bioclinica.rs.
About Inpharm/Sun Wave Pharma
Inpharm is a leading pharmaceutical company operating in Serbia, Bosnia and Herzegovina, and Montenegro, founded in 2000. The company represents and distributes a wide range of medicines for global pharmaceutical companies and continues to expand its portfolio of proprietary dietary supplements. Since 2023, Inpharm has been part of Sun Wave Pharma Group and a portfolio company of LetterOne, a global private equity firm. Sun Wave Pharma, the leading dietary supplements company in Romania, was acquired by the LetterOne in 2021.
