Team announcement

Procaps Group Appoints Dr. Camilo Camacho as President of the Organization

Procaps Group, a leading integrated international healthcare and pharmaceutical company, has appointed Dr. Camilo Camacho as President of the organization.

Dr. Camacho has over 23 years of experience in the pharmaceutical industry in Latin America, with broad experience in marketing, sales, R&D, operations and quality control. He has successfully led integrations of companies after acquisitions, as well as projects involving new businesses, markets and infrastructure.

Dr. Camacho has held leadership positions in five different primary care markets: Cardiovascular, CNS, Respiratory, Gastroenterology and Women´s Health. His career has expanded from family, local, multi-Latin and multinational companies. Prior to his appointment, Dr. Camacho served as Head and General Manager of both the Colombia and North Latin America regions at Abbott Laboratories’ Established Pharmaceutical Division (EPD) from 2014 to 2021. There he led the integration of Abbott Laboratories in Colombia after its acquisition of CFR Pharmaceuticals, and after Lafrancol was acquired by CFR in Colombia.. Previously he worked for CFR Recalcine as a General Manager, and Lafrancol as Vice President. He received his Medical Degree from the Escuela Colombiana de Medicina, Colombia, a Specialist in Pharmacology from the Universidad Nacional de Colombia, and an MBA from the INALDE Business School Colombia.

Furthermore, Procaps Group also reported unaudited net revenues of $78.7 million during the three months ended March 31, 2021, which represents a 33% increase when compared to the same period for 2020. Additionally, Procaps Group’s management team expects gross profit and EBITDA margin to increase when compared to the same period for 2020.

“For more than 40 years, Procaps has developed integral pharmaceutical solutions for people’s health, which has led it to become an important player within the Latin American pharmaceutical market,” said Ruben Minski, Procaps Founder, Chairman and Chief Executive Officer. “On behalf of our board and management team, I would like to welcome Camilo to the position, and we are privileged to have someone of his caliber and prestige serve as our President. With his broad experience in pharma and a history of innovation, product development, operations and marketing, we believe Camilo will be instrumental as we continue to focus on organic growth through diversifying our portfolio and driving regional consolidation through accretive acquisitions. Camilo will help us expand the breadth and depth of our reach as a company, positioning us to continue to create value for our shareholders.”

Dr. Camacho added, “Procaps Group is well positioned as a top-tier pharmaceutical and healthcare player with global reach. I look forward to working with Ruben and the team to execute on the company’s plans focused on operational excellence, expansion and on broadening the company’s overall portfolio.”

On March 31, 2021, Union Acquisition Corp. II (NASDAQ: LATN) (“LATN”), a special purpose acquisition company founded by Kyle P. Bransfield, and Procaps Group announced the execution of a definitive business combination agreement along with a fully committed $100 million PIPE financing investment.

Procaps Group Business and Operational Highlights

Leading regional pharmaceutical player with global reach and accomplished management team

  • Founded in 1977 by the Minski Family with 5,000+ employees across 13 countries
  • Gross revenue of $388 mm in 2020, and projected $436 mm for 2021
  • Innovative delivery technologies transform branded generics into differentiated products

In-house R&D capabilities driving attractive growth opportunities

  • Avenues for growth with a robust pipeline and a high product renewal rate
  • Focus on differentiated, high margin, and high barrier-to-entry products

Leading pharmaceutical integral CDMO specialized in softgels

  • A preferred supplier to the global pharmaceutical companies
  • Top 3 global player by softgel production capacity, with strong growth potential and long-standing reputable clients including Glaxo, Pfizer and Abbott

Proprietary portfolio of branded Rx and OTC products

  • Robust proprietary portfolio with strong growth rates
  • 99% of product portfolio is proprietary

Positioned to capitalize on favorable regional dynamics

  • LatAm’s pharma sales expected to outperform global growth
  • Healthcare expenditure expected to reach a 7% CAGR from 2020 – 2022
  • LatAm’s aging population expected to increase boosting demand for pharma

Strong history and focus on ESG Principles

  • Resource saving polices, HR & social programs and governance are important to Procaps