Procaps Issues Shareholder Letter from New CEO
06 February 2024 - 12:50AM
Business Wire
Procaps Group (NASDAQ: PROC) (“Procaps” or the “Company”), a
leading integrated LatAm healthcare and pharmaceutical
conglomerate, today issued a letter to shareholders from Jose
Vieira, CEO of Procaps.
Dear Shareholders,
I am honored to address you as the newly appointed CEO of
Procaps Group. In my initial three weeks, I have immersed myself in
understanding the intricacies of Procaps Group. This journey
involves recognizing its unique strengths, identifying areas for
improvement, and, most importantly, pinpointing avenues for
growth.
My commitment to this amazing company is unwavering, and my goal
is to further strengthen our culture of transparency, innovation,
and collaboration, fostering a winning attitude across the
organization in all circumstances.
I firmly believe that to move forward successfully, we must look
back, learn from our mistakes, and address any deficiencies.
However, in this highly competitive environment, our primary focus
should be on the future. Our collective energy needs to be directed
towards building not just any future, but a better one.
As part of my first 100-day plan, during which I will
collaborate with the company to formulate a detailed strategic
plan, I want to assure you of my commitment and dedication to
steering Procaps towards consistent growth, optimal cash
management, and predictable profitability. Immediate actions will
be implemented to fortify our cash and financial position in the
short term.
Throughout the upcoming months, I will keep you informed and
engaged in this journey. Your insights and perspectives as
stakeholders are invaluable to me, and I encourage open
communication.
I extend my gratitude for the support received thus far from all
employees and our Board of Directors with whom I've had the
opportunity to interact. Looking forward, I am excited about the
opportunities and challenges that lie ahead. With a clear strategy
in development and short-term measures being implemented, I am
confident that Procaps will experience sustainable growth and
create shareholder value.
I am optimistic about our path forward and committed to making
Procaps a better company for each of our more than 5,000 employees
across the region. We will continue to navigate the complexities of
our industry leveraging our many strengths and firmly and quickly
addressing our areas of improvement. As we progress, my dedication
remains steadfast in upholding your interests and delivering on our
promises.
Sincerely,
Jose Vieira
CEO Procaps Group
About Procaps Group
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 5,000 employees working under a sustainable
model. Procaps develops, manufactures, and markets over-the-counter
(OTC) pharmaceutical products, 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.
Forward-Looking Statements
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 projected financial
information. Such forward-looking statements with respect to
revenues, earnings, performance, strategies, synergies, prospects,
forecasts and other aspects of the businesses of Procaps are based
on current expectations that are subject to risks and
uncertainties. A number of factors could cause actual results or
outcomes to differ materially from those indicated by such
forward-looking statements. These factors include, but are not
limited to, the risks and uncertainties indicated from time to time
in documents filed or to be filed with the Securities and Exchange
Commission ("SEC") by Procaps. Accordingly, forward-looking
statements, including any projections or analysis, should not be
viewed as factual and should not be relied upon as an accurate
prediction of future results. The forward-looking statements
contained in this press release are based on our current
expectations and beliefs concerning future developments and their
potential effects on Procaps. 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 and
uncertainties, including those 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240205187014/en/
Investor Contact: Melissa Angelini ir@procapsgroup.com
investor.procapsgroup.com
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