Bridgewest Group completes acquisition of sterile injectable manufacturing plant in Western Australia from Pfizer
MIAMI and PERTH, Australia, April 4, 2023 /PRNewswire/ -- Global private investment firm, Bridgewest Group, recognized for developing innovative companies in life sciences, software, and deep tech, announces that it has completed the acquisition of the Perth sterile injectable manufacturing facility from Pfizer (Perth) Pty Ltd, a subsidiary of Pfizer, Inc. Bridgewest Group previously announced the definitive agreement to purchase the facility late last year.
The newly acquired facility is a cGMP manufacturing plant that produces a wide variety of high quality sterile injectable drug products. The site and team have an excellent regulatory history with approvals from FDA, TGA, EU and others, to produce drugs for distribution to over 90 countries. The 34,000 square meters facility has over 400 employees operating nine production lines across Oncology/High Potency, Blow-Fill-Seal and multi format vial streams. Bridgewest Group will upgrade and modernize the plant to enhance capabilities and service offerings. The plant will operate as a Contract Development and Manufacturing Organization (CDMO) moving forward and will continue to produce drug products for Pfizer under a master services agreement.
Bridgewest Group is also acquiring a suite of drug products from Pfizer. Bridgewest Group will continue to manufacture and supply these sterile injectable drug products. The team is committed to all customers and their patients, previously served by Pfizer, to deliver the same high quality drug products, without interruption. Customer satisfaction has always been and will continue to be a cornerstone of the Perth team.
This acquisition further extends Bridgewest Group's expertise in pharma. Bridgewest Group has several biotech and life sciences companies in its portfolio, including BioCina, a leading microbial drug CDMO based in Adelaide.
In connection with the company's continuing expansion in Western Australia, Bridgewest Group has formed the subsidiary Bridgewest Perth Pharma Pty. Ltd. Marc Rivers has agreed to join Bridgewest Perth Pharma as President and Chief Financial Officer. Rivers is a seasoned pharma executive and has served in several executive leadership roles at Fonterra, Roche and Eli Lilly. Dr. Masood Tayebi, Co-Founder and Chief Executive Officer of Bridgewest Group said "We're assembling a world class executive team with seasoned industry operators like Marc to oversee and support the continued growth of this acquisition as well as future investments. We see tremendous opportunity in the region, recognized for industry leading medical science and an Australian Government that is proactively increasing its commitment to be a global leader in pharmaceutical manufacturing."
Rivers echoed Dr. Tayebi's sentiment, adding "I'm honoured to join Bridgewest Perth Pharma. This is an incredible industry to be in right now. The rate of innovation is amazing. I look forward to spearheading the company's growth initiatives as we broaden and vertically integrate world-class services and products within our life sciences investments."
About Bridgewest Group
Bridgewest Group is an innovative and privately held global investment firm with over $3B in private capital. Founded in 1999, the global firm has earned a long-standing reputation for creating and scaling transformational businesses to achieve outsized success. Bridgewest Group leverages its expertise and global eco-community in key sectors where it can have the greatest impact including Life Sciences, Software, Semiconductor and Artificial Intelligence/Deep Tech. Customized financial investment services and diverse real estate holdings augment equity assets and support portfolio companies as they grow. Bridgewest Group is based in the US, with investments primarily in the US, Europe, China, and Australasia.
US Media Contact: Jenny Bourbiel, [email protected]
Australia Media Contact: Ian Wisenberg, [email protected]
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SOURCE Bridgewest Group
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