Hoche Partners Criticizes Procaps (PROC) for Delayed Disclosures and Management Issues

Key Summary: On September 3, 2024, Hoche Partners criticized Procaps Group's press release for delaying disclosures, manipulating financials, and lacking investigation transparency. They condemned past management practices and questioned the effectiveness of the new CEO, suggesting Procaps might face bankruptcy without delayed bank payments.

Market Cap: $206 million | Procaps Group S.A. develops, produces, and markets pharmaceutical solutions worldwide.

On September 3, 2024, Hoche Partners Pharma Holding S.A. criticized Procaps Group's hoche-partners-criticizes-procaps-proc-for-delayed-disclosures-and-management-issueshochoche-partners-criticizes-procaps-proc-for-delayed-disclosures-and-management-issueshe-partners-criticizes-procaps-proc-for-delayed-disclosures-and-management-issuesrecent press release, highlighting concerns over delayed disclosures, questionable management practices, and the lack of transparency regarding ongoing investigations. Hoche condemned the previous management’s practice of inflating sales and EBITDA figures through manipulated inventory and criticized the Board for opposing an independent investigation administrator. They also questioned the value added by the new CEO and expressed skepticism about the Company’s financial stability, suggesting that without delayed bank payments, Procaps might face bankruptcy. Source