Liverpool Pharmaceutical Company in £3/4m Expansion Deal

6th March 2006

A Liverpool pharmaceutical company is expanding with a finance package totalling over £3/4m which includes support from Merseyside Special Investment Fund (MSIF).

Bootle-based Zanza Healthcare manufactures and supplies a wide range of generic drugs to the pharmaceutical industry. The company‚s products include prescription drugs used to treat gastric ulcers and diabetes and over-the-counter medicines such as Paracetamol, Ibuprofen, Cocodamol and Asprin.

In addition to supplying UK clients including Lloyds, Boots, Somerfield and Waitrose, Zanza also exports to Africa and the Middle East.

The company has raised funding of £800,000 which is made up of £450,000 from MSIF's £20m Mezzanine Fund and £350,000 through invoice discounting from Bibbys.

Zanza was set up in 1995 and is run by directors Richard Rawlinson, Ian Rawlinson and Jet Hennessey.

Managing Director Richard Rawlinson said: "We want to licence new products and are particularly looking to expand our non-prescription drug range. We already have contracts with several supermarkets for 'own-brand'‚ drugs and it is this area we want to grow. The money from MSIF is crucial to develop this side of the business and also for us to penetrate new markets."

Malcolm Jones, Investment Director of MSIF's Mezzanine Fund said: "Zanza operate in a niche area and have already built up a blue chip client base. The company has the potential for considerable growth and we are pleased to be backing them."

Zanza has a turnover of £6m and it is thought this will rise to £10m over the next three years. The company employs 24 staff and will look to take on at least six more over three years.

Steve Talbot of Langtons provided corporate finance advice.

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For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Photo shows L-R Richard and Ian Rawlinson (Zanza) Malcolm Jones (MSIF)

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