FIMI, announced the acquisition of 90% of Rafa pharmaceutical company for a value of NIS 700 million

The largest investment fund in Israel, FIMI, announced the acquisition of control (90%) of the Rafa pharmaceutical company at a company value of NIS 700 million. Rafa was founded in 1937 by the late Dr. Baruch Levin, and is owned by the Sackler family, the Levin family and the Reshef family. Once the deal closes, the Levine family will hold the remaining shares.
The Phimie Foundation currently has a significant holding in the pharmaceutical companies Kamhada and Rekach, in the medical device company Simplivia and in the logistics and medical services company Novolog. In the past, Phimie also controlled the medical device marketing company Medtechnika.
The Sackler family acquired control of the company in 1973. According to estimates, Rafa's revenues reach NIS 500 million a year from the Israeli market, at a typical profitability of pharmaceutical companies of 20% -25%. The company employs hundreds of workers in Israel, mainly in a factory in Jerusalem, which began operating in 2013. Rafa is currently managed by Amir Levin, the grandson of the founder Baruch Levin.
According to Amir Levin, grandson of Rafa's founder and CEO of the company: “Phimi's entry as Rafa's senior and leading partner will allow the plant to continue operating in Jerusalem, and to promote Rafa's business in Israel and in international markets. This is a significant day in the long history of the company. "