RIYADH: The EQT X fund and Mubadala Investment Co. have agreed to purchase vaccine transporter Envirotainer for around €2.8billion ($2.99 billion). The Sweden-based company — currently owned by Cinven and Novo Holdings — specializes in the air transportation of temperature-sensitive pharmaceuticals. The deal will see Envirotainer accelerate its expansion into the Asia and Pacific region, according to a statement. The head of Life Sciences at Mubadalam Camilla Macapili Languille, said: “Envirotainer plays a mission-critical role in the healthcare ecosystem by ensuring the safe and reliable delivery of drugs from pharma companies to hospitals, clinics, and ultimately, patients.” “Their extensive international footprint ideally positions Envirotainer to meet the pharma industry’s growing need for global temperature-controlled distribution and as the undisputed market leader, they are continuing to pioneer developments in the sector with forward-thinking R&D innovation,” she added. In addition to assisting with scaling the newly launched CryoSure offering, the investors will support Releye’s successful rollout of third-generation containers and invest in new technology innovations, digitalization, and sustainability initiatives.