Freedom International Group announces a strategic investment in Elitepharm Laboratoires and becomes one of the major shareholders. FIG is an investment company focusing on technology, finance, health & wellness managing more than 2.5 billion in assets. Elitepharm is a major player in France in the formulation and production of customized dietary supplements.
From research and development to the manufacturing of private label food supplements, Elitepharm provides solutions for all projects, from small to large series.
Narek Sirakanayan, President & CEO of Freedom International Group, said: “Freedom is making a strategic investment in the healthcare sector. We have two businesses, Project V and CoffeeCell, in the industry and we believe France represents the best location for producing Dietary Food Supplements in the world, due to its close sourcing of active ingredients, very strict regulation in the industry and the technology of freezing. We will bring the big expertise of our IT company Sessia to invest in AI technology to produce more efficient products, obtain faster and more reliable results on focus groups.”
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The partnership signed by Narek Sirakanyan and Gérard Strauch, President and CEO of Elitepharm, represents a logical integration as Project V is producing its products, 40 different types, at Elitepharm.
This investment marks a new phase in the industrialization and expansion of Elitepharm Laboratoires, which now aims to become a leading player in Europe, with targeted revenues of 50 million euros by 2029. Today Elitepharm produces about 25 million capsules per month and the target is to double production.
SOURCE: PRNewswire