Czech producer of generic medications Zentiva is poised for a change in ownership as Advent has agreed to sell the company to GTCR, another private equity investor with a focus on the healthcare sector. 

The sale, initially reported by the Financial Times according to Reuters, is estimated to be worth €4.1bn ($4.8bn).

Zentiva's operations span the development, production and distribution of medicines in more than 30 countries across Europe and beyond.

The company has four completely-owned manufacturing facilities, complemented by a network of external production partners ensuring consistent supply.

With a workforce of more than 5,000, Zentiva has undergone significant growth and transformation since Advent's acquisition from Sanofi in 2018.

Advent's close collaboration with the management team has been instrumental in the expansion of Zentiva's product range and manufacturing capabilities, both organically and through strategic acquisitions, positioning Zentiva as a self-reliant entity with an emphasis on research and development.

Zentiva CEO Steffen Saltofte stated: “Advent has been an exceptional partner in Zentiva’s transformation journey. Their commitment to investing in our capabilities, pipeline and manufacturing base has been instrumental in our growth and in ensuring we can better serve millions of patients across Europe.”

GTCR has a history of healthcare sector investments, particularly in the pharma industry.

The finalisation of the acquisition is subject to the usual regulatory approvals and will be completed in early 2026.

For the transaction, Advent was supported by Goldman Sachs and PJT Partners as primary financial advisors, while Freshfields acted as lead legal advisor.

GTCR's advisory team included financial guidance from Barclays Bank's Investment Bank and BNP Paribas, with Morgan Stanley & Co also providing financial advice, and legal counsel from Kirkland & Ellis.

GTCR Healthcare head and managing director Sean Cunningham stated: “We are delighted to partner with Steffen Saltofte and the talented Zentiva management team for its next phase of growth.

“The company has an impressive track record of organic and inorganic expansion, a strong pipeline and a highly efficient manufacturing platform, with a critical focus on delivering high-value medicines to patients across Europe. We look forward to supporting Zentiva as it continues to deliver on its mission.”