(Toronto) Montreal health care company Searchlight Pharma is acquired by pharmaceutical company Apotex.
Financial terms of the transaction, which is expected to close in the second quarter, were not immediately available.
Apotex President and CEO Allan Oberman believes Searchlight has proven experience, deep institutional knowledge and a strong portfolio.
The companies say Searchlight’s headquarters will remain in Montreal while Apotex’s operations will expand into Quebec.
Apotex is owned by SK Capital Partners, which purchased the Toronto company in 2022. Apotex was founded by Barry Sherman. The businessman and his wife, Honey Sherman, were killed in their Toronto mansion in 2017.