Med Opportunity Buys Ferro's Pharmaceuticals Business
April 02, 2013
Med Opportunity Partners, a healthcare-focused private equity firm, has acquired Pfanstiehl Laboratories, a division of Ferro (NYSE: FOE), for $16.9 million in cash plus an earnout incentive payment of up to $8 million. Based in Waukegan, IL, Pfanstiehl provides specialized products and services for niche pharmaceutical and biotechnological applications. The company produces commercial quantities of high-purity, low-endotoxin sugars utilized as injectable excipients and for cell culture media and protein stabilization.