ACON INJECTABLE INVESTORS I, L.P. (FMO-59864)

Countries
  • Colombia
  • Mexico
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 17, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Vitalis Group
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 19.68 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 19.68 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 21, 2021


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Project Description

WHO IS OUR CLIENT

FMO's investment in ACON Injectable Investors I, L.P. is used for further investment into Vitalis Group. Established in 1999, Vitalis Group is a leading manufacturer and distributor of generic injectable pharmaceuticals with production facilities in Colombia and Mexico, and sales to more than 20 countries, primarily in Latin America. The Group's products are mainly used in surgical theaters, emergency rooms and intensive care units, and cover multiple therapeutic areas such as antibiotics, anesthesia, gastroenterology, oncology, and cardiology, among others.

FUNDING OBJECTIVE

FMO's investment will be used to acquire the companies that comprise Vitalis Group, and to support its growth plans in order to contribute to the stability, growth and innovation of the domestic health care systems in Colombia and Mexico.

WHY WE FUND THIS PROJECT

This investment supports the deepening of local production capacity in Colombia and Mexico, and sales of essential medicines into Latin America, contributing to SDG3 (good health). Vitalis Group currently provides skilled labor opportunities to more than 1200 staff and is expected to add another 150 jobs over the next 5 years, in line with FMO's aim to contribute to SDG8 (decent work and economic growth). Two thirds of the workforce are female employees, supporting SDG5 (gender equality).

ENVIRONMENTAL AND SOCIAL RATIONALE

The E&S category is B+

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
Contact Information

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism