Kuala lumpur: Ekuiti Nasional Bhd (Ekuinas) has invested in bumiputera manufacturer Ain Medicare Sdn Bhd through its RM1 billion Tranche IV fund.

According to BERNAMA News Agency, the government-linked private equity firm announced the acquisition of a strategic minority shareholding in Ain Medicare, a company specializing in sterile parenteral pharmaceutical products. This investment aligns with Ekuinas' objective to enhance bumiputera enterprises in strategic sectors crucial for Malaysia's long-term economic stability.

Ekuinas CEO Aliff Omar Mohamad Omar emphasized the significance of the healthcare sector for Ekuinas, noting the pharmaceutical subsector's role in fostering industrial growth and national resilience. He highlighted Ain Medicare's leadership in sterile parenteral products, its robust 30-year track record, and its diverse customer base as key factors in the investment decision. The investment aims to foster strategic partnerships and collaboration across government-linked investment funds and portfolio companies to build resilient and competitive Malaysian enterprises.

Ain Medicare chairman Datuk Wan Ariff Wan Hamzah remarked that the partnership with Ekuinas marks a significant milestone for the company. He expressed anticipation in leveraging Ekuinas' capital and expertise to accelerate Ain Medicare's growth plans, enhancing its scale and competitiveness.

Founded in 1993 and headquartered in Kota Bharu, Kelantan, Ain Medicare focuses on sterile parenteral pharmaceutical products and operates seven manufacturing facilities in Kota Bharu and Kulim. The company employs approximately 1,400 staff, predominantly bumiputera, and is one of the largest private employers in Kelantan. Ain Medicare supports over 100 Malaysian small and medium enterprises in logistics, packaging, engineering, and technical services through its vendor development initiatives.