Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) has closed previously announced sale of Obagi Medical Products business for $190 million in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P. and its affiliate Obagi Cosmeceuticals, LLC.
Haitong International ZhongHua Finance Acquisition Fund I, L.P. is a sector fund focusing on investments in the skincare and medical products industries.
Limited partners of the fund include China Regenerative Medicine International Limited (SEHK: 8158).
China Regenerative Medicine International Limited (CRMI)中國再生醫學國際有限公司is engaged in the research, development and commercialization of innovative bio-medical, healthcare products and medical techniques. CRMI operates seven production plants in mainland China and Hong Kong, and the business is organized across four strategic areas, encompassing tissue engineering, cell therapy, cosmetics and hospital management.
photo credit: Obagi Medical Products