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Genop acquired by Adcock Ingram9 October 2017JSE-listed healthcare and pharmaceutical business, Adcock Ingram, has concluded a Share Purchase Agreement to acquire 100% of the shares of Genop Holdings Proprietary Limited and its subsidiaries.Medical aesthetics brands distributed by Genop Healthcare Proprietary Limited, the main trading subsidiary of Genop Holdings, include the NeoStrata and Exuviance skincare ranges, Dermapen, Ellansé dermal fillers and Silhoette Soft threads. Genop also owns and markets the Epi-max skincare range.Says Lawrence Abrahamson, executive chairman of Genop Healthcare: “The board of directors of Genop has, after careful consideration, decided to accept the Adcock Ingram offer, subject to certain regulatory approvals and other conditions customary in a transaction of this nature. “We believe that Adcock Ingram, under the management of Andy Hall, will add considerable value and opportunities to the expansion of Genop.”According to Abrahamson, Genop will continue to operate as a separate company (from its existing premises) under the management of CEO Gerald Seftel and Abrahamson himself, together with the existing management team, for business as usual. “The board of Genop is of the opinion that the transaction will be a positive one for all our stakeholders, including the management and staff of the business and all our valued customers,” states Abrahamson. Adcock Ingram’s Hall adds: “We consider the Genop acquisition to present an attractive investment opportunity for us, as the range is complementary to our existing portfolio with very little overlap. This acquisition also offers diversification into a less regulated area of the healthcare market with many products in the portfolio falling outside the regulated single exit price environment.”