Full Press Release Details
Procaps Group Announces Appointment of Jose
Antonio Vieira as Chief Executive Officer Starting 2024
MIAMI, USA - BARRANQUILLA, COL -
November 22, 2023 - Procaps Group (NASDAQ: PROC) ("Procaps"), a leading integrated LatAm healthcare and pharmaceutical
conglomerate, announced today a strategic leadership transition as Ruben Minski, founder and CEO of Procaps prepares to transition from
the role of Chief Executive Officer to focus exclusively on his role as Executive Chairman of the Board, and the appointment of Jose Antonio
Vieira as the new Chief Executive Officer of Procaps Group. The transition will be effective January 15, 2024.
After over 45 years of visionary leadership and
dedicated service, Ruben Minski has played a pivotal role in Procaps' growth and success, transforming it into a global leader in
pharmaceutical innovation. Under his guidance, Procaps has achieved numerous milestones, and positively impacting countless lives.
The Board of Directors expresses its deep gratitude
to Ruben Minski for his unwavering commitment and outstanding leadership throughout the years. The decision to transition to the role
of Executive Chairman reflects a thoughtful and deliberate succession planning process, as previously announced in February this year.
"It has been a privilege to serve as CEO
of Procaps for the past 45 years. I look forward to focusing only on my role as Executive Chairman of the Board, where I can continue
to contribute to the company s strategic direction", said Ruben Minski.
In his role as Executive Chairman of the Board,
Ruben Minski will continue to provide strategic guidance, drawing upon his wealth of experience and industry knowledge. This transition
underscores Procaps' commitment to sustained success and its dedication to delivering value to shareholders.
The Board welcomes Mr. Vieira to Procaps. Jos
Antonio brings a wealth of experience in the international pharmaceutical industry, including Latin America and a proven track record
of strategic leadership. With his broad experience in the healthcare sector, we believe he is poised to lead Procaps into its next phase
"I m very pleased to have Mr. Vieira
joining Procaps. His knowledge, experience and leadership will certainly help us move to our next development phase, as we continue to
strengthen our operations and focus on profitability and growth." said Ruben Minski, Executive Chairman of the Board of Directors.
Mr. Vieira has over 30 years of experience in
the pharmaceutical market, having worked for companies such as Novartis, Abbvie and AstraZeneca in Brazil, Portugal, Australia, New Zealand
and the United Kingdom. He started his career at Novartis, where he held various commercial positions in Brazil and Portugal and later
was appointed as Country President for Brazil. He also worked for Allergan Brazil as General Manager. Later on, he joined AstraZeneca
Brazil as Country President and held a similar position for Australia and New Zealand, and later was appointed as Global Commercial VP
in London. He also worked for Abbvie in Brazil and in 2018 he joined Patria Investimentos as Operating Partner responsible for healthcare
companies such as Natulab, V ncula and Farm cias Independentes, where he serves as Chairman of the Board. He is also a member
of the Board of Directors of Elfa Medicamentos, where he previously served as CEO for nearly three years.
Mr. Vieira holds a degree in Economics from Funda o
Armando Alvares Penteado in S o Paulo, Brazil, with MBA from Business School S o Paulo and Advanced Management Program
for Senior Leaders from Harvard Business School. He is currently completing another MBA with a focus on private equity, venture capital
and start-up investments at FGV in S o Paulo. Jose will be based in the company s headquarters in Barranquilla, Colombia.
"I m honored with this new challenge
and I am eager to lead the next chapter of Procaps as CEO. Procaps is a unique company with tremendous potential. I am excited about the
opportunity to lead this exceptional team and build upon the legacy of innovation and excellence established by Ruben. Together with the
talented individuals at Procaps, we will continue to advance our mission of improving lives through pharmaceutical solutions", said
Jose Antonio Vieira.
Procaps Group, S.A. ("Procaps") (NASDAQ:
PROC) is a leading developer of pharmaceutical and nutraceutical solutions, medicines, and hospital supplies that reach more than 50 countries
in all five continents. Procaps has a direct presence in 13 countries in the Americas and more than 5,500 employees working under a sustainable
model. Procaps develops, manufactures, and markets over-the-counter (OTC) pharmaceutical products and prescription pharmaceutical drugs
(Rx), nutritional supplements and high-potency clinical solutions.
For more information, visit www.procapsgroup.com
or Procaps' investor relations website investor.procapsgroup.com.
IR Director - Procaps Group
investor.procapsgroup.com
This press release includes "forward-looking statements." Forward-looking statements
may be identified by the use of words such as "forecast," "intend," "seek," "target,"
"anticipate," "believe," "expect," "estimate," "plan," "outlook,"
and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include projections on Mr. Vieira's expected future
performance as well as the expected benefits to be achieved by the appointment of Mr. Vieira as chief executive officer, and there can
be no assurance that any such projections or benefits underlying the appointment of Mr. Vieira as chief executive officer will be obtained.
A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements.
These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control),
or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to, the risks included under the header "Risk Factors" in Procaps'
annual report on Form 20-F filed with the SEC, as well as Procaps' other filings with the SEC. Should one or more of these risks
or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly,
you should not put undue reliance on these statements.