Cinven agreed to buy Theramex from Carlyle and PAI Partners, which say the women’s health drugmaker more than doubled its EBITDA during their ownership since 2022. The parties did not disclose financial terms.
The London-based company sells medicines for menopause, osteoporosis, contraception, uterine health and fertility through direct operations and partners. Its network spans more than 80 countries, with commercial infrastructure in 17 direct markets, according to the sellers.
Carlyle and PAI attribute the earnings growth to new treatment launches, acquisitions and licensing agreements. Cinven plans to pursue further licenses and expand in existing and new markets, according to Investors in Healthcare’s account of the buyer’s announcement.
The transaction remains subject to regulatory approvals and is expected to close in the first half of 2027.