Ekuiti Nasional Berhad (Ekuinas) announced Tuesday its investment in Ain Medicare Sdn Bhd, a Bumiputera home-grown manufacturer of sterile parenteral pharmaceutical products.
Ekuinas said in a statement that the investment, made via Ekuinas’ MYR 1 billion ($790 million) Tranche IV fund, will see Ekuinas acquire a strategic minority shareholding in the company.
This aligns with Ekuinas’ mandate to scale Bumiputera enterprises operating in strategic sectors that contribute to Malaysia’s long-term economic resilience.
“Recognizing healthcare as a priority industry for Ekuinas, the pharmaceuticals subsector plays a key role in higher-value industrial growth and national resilience,
“Ain Medicare has established itself as a homegrown leader in sterile parenteral products, with a proven 30-year track record,
diversified customer base and strong research and development pipeline,” said Aliff Omar Mohamad Omar, Chief Executive Officer of Ekuinas.
According to him, Malaysia’s pharmaceutical industry is projected to grow at approximately 6.4 percent annually to reach over MYR 15 billion ($11.77 billion) by 2030, reflecting rising healthcare demand, demographic shifts and strengthening domestic manufacturing capabilities.
With the country’s focus and advances in the pharmaceutical industry, he noted it is increasingly recognized as a strategic sector that contributes to economic resilience, supply security and higher-value industrial development.
“Institutional capital has an important role in supporting the growth of scalable local players within priority industries,
“The sector’s long-term fundamentals, underpinned by regulatory strengthening, export expansion and innovation in specialized products, present sustainable growth opportunities while contributing meaningfully to Malaysia’s broader economic aspirations,” he added.
Ultimately, he said this investment underscores the importance
of strategic partnerships and collaboration across government-linked investment funds and their portfolio companies in building resilient, competitive and future-ready Malaysian enterprises.
Rick Ramli, Non-Independent Non-Executive Director of Ekuinas, and Deputy President amd Group Chief Executive of Permodalan Nasional Berhad (PNB), said this investment reflects a continued commitment to strengthening Bumiputera participation in strategic sectors, aligned with Ekuinas’ objective of building leading, scalable Bumiputera enterprises.
“Ain Medicare’s journey exemplifies the ‘Bumiputera Relay Race’ in action, having been supported by VentureTECH from 2017 to 2025 to strengthen its operational capabilities and scale its manufacturing capacity, before progressing to its next phase with
Ekuinas,” he added.
He also revealed that VentureTECH, a government-established investment company focused on high value-added and technology-driven industries, previously supported the company at the earlier stage of its growth.
“This marks the second such Relay Race after Orkim Berhad and highlights how coordinated institutional support can effectively scale high-potential Bumiputera companies,
“It also represents a meaningful outcome of Ekuinas being part of the broader PNB ecosystem, enabling stronger alignment of capital, capabilities and long- term value creation across institutions,” he added.
Founded in 1993 and headquartered in Kota Bharu, Kelantan, Ain Medicare specializes in sterile parenteral pharmaceutical products, supplying intravenous solutions, injectables, irrigation fluids and haemodialysis concentrates for hospitals and critical care.
Its customers include the Malaysian government, private healthcare providers and overseas markets.
The company operates seven manufacturing facilities in Kota Bharu and Kulim, and holds certifications from the NPRA, MDA and ISO, alongside JAKIM halal certification to support expansion into Muslim-majority markets.
Its products are exported to 17 countries across multiple regions. Ain Medicare employs about 1,400 staff, mainly Bumiputera, and supports over 100 local small and medium-sized enterprises (SMEs) through vendor development programs.
“This partnership with Ekuinas marks an important milestone for Ain Medicare. With their capital and institutional expertise, we are poised to accelerate our strategic growth plans,
“We are focused on specialized generics and advanced injectables to tap into the growing Small Volume Injectable segment, as well as widening our international footprint,” said Wan Ariff Wan Hamzah, Chairman of Ain Medicare.
“In addition to that, we take pride on having built a resilient organization as well as a strong support ecosystem by growing local talent and strengthening our network of Malaysian vendors,
“We look forward to working closely with Ekuinas to elevate Ain Medicare to the next level of scale and competitiveness,” he added.
According to the statement, the investment reinforces Ain Medicare’s solid foundation and positions the company to capitalize on sustained growth in Malaysia’s pharmaceutical industry.
With continued institutional support and a clear expansion roadmap, Ain Medicare is set to strengthen its role as the country’s leading manufacturer of sterile parenteral pharmaceutical products.