Sunshine Healthcare Lanka (SHL), part of Sunshine Holdings PLC (CSE: SUN), has secured a substantial equity investment of up to Rs. 3,270 million from the International Finance Corporation (IFC), a member of the World Bank. This strategic investment will see IFC acquiring around a 14.7% stake in SHL, reinforcing Sunshine’s commitment to meeting Sri Lanka’s growing healthcare demands. The agreement is poised to fuel SHL’s expansion plans and elevate healthcare services nationwide through significant capital projects.
With IFC’s backing, SHL intends to ramp up its production capabilities, particularly in pharmaceutical manufacturing and medical devices. Investments are earmarked for expanding Lina Manufacturing’s output from 750,000 Metered-Dose Inhalers (MDIs) to 3 million units, alongside enhancing DPI capsule manufacturing. The focus extends to strengthening diagnostic capacities, developing central logistics infrastructure for pharmaceuticals distribution, and expanding the retail and online presence of the Healthguard Pharmacy chain. These initiatives align with Sunshine Holdings’ vision of contributing to the nation’s healthcare sector and ensuring the resilience of Sri Lanka’s healthcare systems.
Sunshine Holdings PLC’s Group Chief Executive Officer, Shyam Sathasivam, expressed confidence in the partnership with IFC, highlighting the shared goal of advancing healthcare accessibility and innovation in Sri Lanka. The collaboration signifies a strategic move towards scaling up operations and bolstering SHL’s presence across various healthcare segments, in line with the Group’s mission of enriching the lives of Sri Lankans. IFC’s Regional Vice President for Asia and the Pacific, Riccardo Puliti, emphasized the investment’s focus on localizing sustainable supply chains and promoting inclusive development by enhancing access to quality healthcare solutions.