SlayBack Pharmaceuticals has a wide and diverse variety of pharmaceutical products- both generic and specialized solutions. In order to accelerate growth and continue diversification, the company has successfully raised $50 million in funding from the Everstone Group. Private Equity’s managing directors Arjun Oberoi and Puncham Mukim will also be a part of SlayBack Pharma’s Board of Directors following the deal.
Initially, KKR invested $60 million in SlayBack during its first round of funding and as per the latest announcement, Everstone has followed it in its steps now. This initial investment was made in December 2016.
Slayback Pharma CEO, Ajay Singh’s Comments
Slayback Pharma’s CEO, Ajay Singh, commented on Everstone’s investment and stated:
“We are delighted to partner with Everstone in our quest for smart solutions to complex pharmaceutical challenges. Their experience in investing in and building pharmaceutical businesses with a focus on regulated markets will help turbo-charge our growth pipeline of complex and specialty products. We are especially thrilled to welcome Arjun and Puncham to our board.”
The CEO of Everstone, Sameer Sain, also commented on the announcement and stated that Slayback’s years of expertise in manufacturing generic and specialized pharmaceutical products for modern health challenges aligns well with Everston’e investment strategy for the healthcare industry. He also expressed confidence in Slayback being a valuable addition to the firm’s versatile investment portfolio in healthcare. The CEO was hopeful of Slayback’s research and development team in India to continue addressing the modern healthcare challenges with innovative pharmaceutical solutions. Sain expressed excitement in getting onboard with Slayback as it moves closer to its next round of growth.
KKR’s Healthcare Investment Team’s Co-Head Applauded Slayback’s Performance
The Co-Head of KKR’s team for healthcare investments, Ali Satvat, was also reported quoting that Slayback has shown tremendous growth since KKR’s initial investment in 2016. He also applauded the company’s achievements that it added to its portfolio in the pasts three years. Satvat also expressed excitement for Slayback’s partnership with Everstone as he saw the investment help the company further in scaling its differentiated products.
SlayBack currently operates in the US, Europe, and India and has about 85 employees in total. Everstone is known to have a diverse portfolio of assets worth $5 billion. A few of Everston’e prominent projects include Sahyadari Hospitals, Ascent Health, and Everlife. The company has also invested in OmniActive, and has a minority share in Translumina Therapeutics.