Advent International acquired Labormed, Romania’s leading independent domestic pharmaceuticals manufacturer in March 2008.

Since then Labormed’s buy-in management team, led by Stephen Stead, an Advent operating partner and former CEO of Terapia and Polpharma, has continuously focused on operational efficiencies and portfolio development.

Labormed transformed from a local generics company into a speciality pharmaceutical and consumer healthcare business offering a mix of high profile OTC branded products as well as modern prescription products across the key CEE markets. This turnaround was achieved through in-house product development; the introduction of a complimentary range of plant based natural products and the targeted acquisition of the Ozone Laboratories portfolio. As a result turnover almost doubled in what is a rather challenging market environment.

The company is currently undergoing a rebranding exercise which will modernise the company’s image. Labormed’s strategy going forward is to build on its strong platform to continue to grow its domestic market share and to expand further in the high-growth CEE region, leveraging its state of the art production facilities and highly effective commercial capabilities, whilst maintaining a close watch on operational effectiveness to deliver profitable and sustainable growth.

With an expanding range of high quality products and the recruitment of skilled professionals adaptable to a rapidly evolving market environment, Labormed is well-positioned to become a major regional player.