The investment will be used for continued expansion in its core markets of Latin America, the Middle East and the Caribbean. Masters is also seeking to open new markets in Asia.

Masters can also announce has appointed Bill Burns as non-executive chairman of its Board. Mr Burns is a high profile figure in the pharmaceutical industry with over 40 years experience in the sector having held several senior management roles at Roche, most recently as CEO of Roche Pharmaceuticals and as member of the Corporate Executive Committee of the Roche Group.

He has strong experience of international mergers and acquisitions within the industry. Among his key achievements at Roche, Mr Burns played a significant role in the acquisition of Genentech, he led the integration of Boehringer Mannheim Therapeutics and was instrumental in Roche taking majority control of Chugai in Japan.   
Mr Burns retired from Roche this January. He is on the Board of Directors at Roche Holdings, Chugai Pharmaceuticals, Genentech and Shire.

Masters was founded in 1984 by Zulf Masters, OBE, who is joining with Albion Ventures investing in the company’s next stage of growth and continues as Founder Director. Masters operates primarily in the international supply of licensed drugs into unlicensed territories providing access for international markets to drugs that are commonly available in the US and Europe but hard to access from outside those markets. Other activities are centred on specialist wholesale distribution of generic and branded pharmaceuticals.

Dave Moran, Chief Executive Officer, Masters said: “Albion Ventures understand the pharmaceutical sector and what we want to achieve. We are impressed with their experience and track record and look forward to creating a market leading position with them and our new chairman, Bill Burns. His experience and distinguished leadership will enable us to actively pursue our expansion strategy in our existing and new potential markets.”

Bill Burns Chairman, Masters said: “In Masters I see a company that has real potential to become a force in todays healthcare sector fulfilling a real, and often unmet need, to supply quality healthcare solutions to patients wherever they may be.”

Andrew Elder, Partner, Albion Ventures said: “Masters is an attractive investment for us because it operates within a global market that is experiencing a huge increase in demand for leading US and European drugs and treatments. There is real potential for it to become the market leader in this space and the appointment of Bill Burns adds real depth to an already talented and experienced management team.”