Signet Healthcare Partners Exits Investment in RK Pharma Inc.

NEW YORK, June 13, 2023 — Signet Healthcare Partners ("Signet") is pleased to announce the successful completion of the sale of its stake in RK Pharma Inc. ("RK Pharma") to PAG. RK Pharma, a leading developer, manufacturer, and distributor of high-quality, affordable generic pharmaceutical products, with a particular focus on complex injectables, operates a state-of-the-art Sterile Drug Product Manufacturing facility in Pearl River, NY. RK Pharma's group of companies includes subsidiaries Apicore, Archis Pharma, and Aktinos Pharma, which provide a rich supply of complex Active Pharmaceutical Ingredients (“APIs”) and Intermediates, as well as commercialization services.

As the first institutional investor in RK Pharma, Signet invested in the company in 2019. Under the exceptional leadership of Dr. Ravishanker Kovi and his executive management team, RK Pharma experienced tremendous growth, nearly quadrupling its revenue over the past four years while maintaining its position as an industry leader in drug manufacturing and development.

James Gale, Founder and Managing Director of Signet, commented, "We have thoroughly enjoyed our collaboration with RK Pharma over the past four years. Dr. Ravi and the executive management team have demonstrated their expertise and proven track record in pharmaceutical manufacturing and development and have been exceptional partners. Together, we have built a business of scale that remains dedicated to delivering high-quality and affordable generic products to patients worldwide. We hold great respect for the accomplishments of the RK Pharma team and eagerly anticipate their continued success in the years ahead."

Dr. Ravishanker Kovi added, "Partnering with Signet for the second time has been a rewarding experience. Signet’s growth capital funding into RK Pharma gave the impetus needed to accelerate revenue growth. Signet's extensive healthcare and investing expertise has played a vital role in our business growth and facilitating the successful transaction with PAG. We deeply appreciate Signet's unwavering support as a value-add partner throughout our journey."

Troutman Pepper Hamilton Sanders LLP acted as legal counsel to Signet. Sheppard, Mullin, Richter, and Hampton LLP acted as legal counsel to RK Pharma Inc.

About Signet Healthcare Partners

Signet Healthcare Partners is a leading provider of growth capital to innovative healthcare companies, specializing in pharmaceutical and medical device sectors. The firm maintains a disciplined, yet flexible investment approach and collaborates closely with its portfolio companies to enhance value. With a proven track record of successful investments over its 25-year history, Signet has raised cumulative capital commitments exceeding $600 million and invested in over 55 companies. For more information, visit www.signethealthcarepartners.com