Apax acquires Qualitest and Vintage

Funds advised by Apax Partners have agreed to acquire Qualitest and Vintage Pharmaceuticals, a leading distributor and manufacturer of generic pharmaceuticals based in Huntsville, Alabama, USA.

Founded in 1983 by William Propst, Qualitest and Vintage Pharmaceuticals was established to provide quality generic medicines at affordable prices. The company now produces tablets, capsules, liquids, suspensions, suppositories, creams and ointments across a portfolio of over 160 products. The business has grown significantly over the past 24 years and is currently ranked among the top 10 suppliers of generic pharmaceuticals based on the total number of prescriptions filled.

Apax Partners has invested over $2.8 billion in the health care sector since 1989 and has a team of 13 investment professionals across its global platform. The team has spent the past two years specifically involved in the generic pharmaceutical industry, working with a range of leading industry executives and operators.