Table of Contents
Key Points
- Lamia Tazi’s Sothema will acquire 99.99% of Soludia Maghreb to expand local pharmaceutical production.
- The company also expects $10 million in earnings, with an additional $10.5 million earn-out tied to performance.
- Acquisition strengthens regional supply and dialysis care, supporting broader growth across Africa and the Gulf.
Sothema Group, Morocco’s leading pharmaceutical company led by businesswoman Lamia Tazi, has agreed to acquire Soludia Maghreb, a local producer of hemodialysis solutions. The acquisition is part of Sothema’s plan to expand its manufacturing footprint and reinforce its supply of essential healthcare products across Africa.
In a statement, Sothema said it will purchase 99.99 percent of Soludia Maghreb’s share capital from its current owners, Abdelaziz Razkaoui, the Zine family, and Cap Mezzanine III, a fund managed by CDG Invest Growth. Soludia Maghreb boasts an enterprise value of MAD1 billion ($111 million).
Soludia Maghreb eyes $40 million revenue
Soludia Maghreb was founded in 1998 through a partnership with Soludia France. Over the years, it has grown into a key supplier in Morocco’s dialysis market. The company provides CE-marked products and holds ISO 13485 and ISO 9001 certifications. Its offerings include tailored treatment formulas and packaging solutions, such as bicarbonate powder, large-volume acid tanks, and acetate-free acid bags, which are used in both public hospitals and private clinics.
One of the company’s co-founders, Razkaoui, will remain CEO for at least the next five years. His leadership is expected to provide stability and ensure a smooth transition as the company enters its next chapter. Soludia Maghreb is expected to generate MAD360 million ($40 million) in revenue in 2025, with projected earnings (EBITDA) of MAD90 million ($10 million). The deal includes a potential earn-out of MAD95 million ($10.5 million), depending on how the business performs over time.
Deal to boost output, regional reach
With an annual output of 60 million pharmaceutical units, Sothema works with 35 international laboratories and sells its products in Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf. Lamia Tazi, who serves as both CEO and chairperson, holds an 8.4 percent stake in the company, representing more than 589,000 shares.
Sothema said the acquisition will support its strategy to expand local production and improve access to specialized treatments. It also aims to enhance Morocco’s manufacturing capabilities in dialysis care, broaden the company’s product offering, and boost Soludia’s competitiveness abroad, particularly in West Africa and the Middle East. The deal is still subject to regulatory approvals, including from Morocco’s competition council, and is expected to close before the end of 2025.
