Sphere Healthcare – sale to Weibao
Miles Advisory Partners advised ROC Partners on the sale of Sphere Healthcare to Weibao Group.
Transaction Details
Sector
Healthcare
Miles Role
Sell-side advisor to ROC Partners
Deal Type
Business Divestment
Year Completed
2017
Contacts for this Transaction
Rohan Manikath
Managing Director
Gareth Cope
Managing Director
Overview
- Sphere Healthcare is a Sydney-based contract manufacturer of complementary and nutraceutical healthcare products, licensed by the Therapeutic Goods Administration, with around 30 years’ operating history.
- The business is among the largest complementary healthcare manufacturers in Australia, with substantial soft-gel capsule manufacturing capacity of around 650 million capsules per annum.
- A cross-border transaction, the acquirer, Weibao Group, is a leading baby foods and non-foods branding company in China.
Industry Context
The transaction reflected a wave of inbound Chinese and broader Asian investment in Australia’s complementary medicines and nutraceuticals sector. Strong consumer demand across China and the wider Asian region for trusted, Australian-made vitamins and supplements, together with the value of Therapeutic Goods Administration accreditation and established local manufacturing capacity, made Australian manufacturers such as Sphere Healthcare attractive strategic targets for Asian acquirers seeking secure supply and high-quality brands.
