Kamada Bundle
Who Owns Kamada Ltd.?
Understanding Kamada Ltd.'s ownership is key to its strategic path and accountability in the biopharmaceutical sector. Founded in 1990 by David Tzur, Kamada focuses on plasma-derived protein therapeutics, notably for Alpha-1 Antitrypsin Deficiency.
Kamada has established itself as a leader in specialty plasma products, with six FDA-approved products available in over 30 countries. Its market capitalization is around $420 million USD as of August 2025, with 2024 revenues reaching $161 million, a 13% increase from 2023.
Exploring Kamada's ownership reveals insights into its governance and strategic shifts, influenced by founders, early investors, and major institutional stakeholders. This includes examining the impact of recent market trends on its structure, such as its work on products like Kamada BCG Matrix.
Who Founded Kamada?
Kamada Ltd. was incorporated in Israel on December 13, 1990, marking the beginning of its journey. The company was founded by David Tzur, Ralph Hahn, and Kamapharam Ltd., an entity originally wholly owned by Kibbutz Beit Kama.
Founding Team
David Tzur and Ralph Hahn were instrumental in the early leadership of Kamada. They guided the company's operations until early 2013.
Early Operational Structure
David Tzur initially served as the Chief Executive Officer. The specific equity split at inception is not publicly detailed.
Asset Acquisition
In 1999, Kamada integrated the production facilities of Kamapharam Ltd. into its operations.
Early Investment Round
A significant early transaction involved a company owned by Hahn and another investor acquiring 35% of Kamada for $2.5 million in 1999.
Notable Backer
GlenRock Israel became an early notable backer. They invested through warrant exercises in August 2008.
Investment Amount
GlenRock Israel's investment in August 2008 was approximately NIS 7.8 million, which translated to about $2.7 million USD at that time.
The foundational ownership of Kamada Ltd. involved its founders and early investors, reflecting a mix of entrepreneurial vision and strategic financial backing. Understanding the initial Kamada company ownership provides insight into its early trajectory and the individuals who shaped its initial structure, which is crucial for comprehending the broader Kamada company structure over time. This early phase laid the groundwork for future developments and potential changes in Kamada stock ownership, influencing its path towards becoming a publicly traded entity and impacting its Target Market of Kamada.
Key Ownership Milestones
The early years of Kamada Ltd. were marked by significant developments in its ownership structure and operational assets.
- Incorporation: December 13, 1990, in Israel.
- Founders: David Tzur, Ralph Hahn, and Kamapharam Ltd. (originally Kibbutz Beit Kama owned).
- Early Leadership: David Tzur as initial CEO, with Tzur and Hahn leading until early 2013.
- Asset Acquisition: Kamada acquired Kamapharam Ltd.'s production facilities in 1999.
- Early Stake Acquisition: 35% of Kamada was acquired by a company owned by Hahn and an investor for $2.5 million in 1999.
- Notable Investment: GlenRock Israel invested approximately $2.7 million USD in August 2008 through warrant exercises.
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How Has Kamada’s Ownership Changed Over Time?
Kamada's journey as a publicly traded entity began with its initial public offering on the Tel Aviv Stock Exchange in 2005, followed by a significant listing on the Nasdaq Global Select Market in June 2013. The U.S. IPO involved the offering of 5,582,636 ordinary shares at $9.25 per share, marking a key step in its ownership evolution.
| Shareholder | Ownership Percentage (as of March 2025) | Number of Shares (as of March 2025) |
|---|---|---|
| FIMI Opportunity Funds | Approximately 38% | N/A |
| Phoenix Investments & Finances Ltd. | 6.95% | 3,994,539 |
| Renaissance Technologies LLC | 1.41% | 808,305 |
| Individual Insiders | 7.22% | N/A |
As of July 25, 2025, Kamada Ltd. is supported by 65 institutional owners and shareholders who have reported their holdings to the SEC, collectively holding 5,863,976 shares. The company's ownership structure is currently dominated by FIMI Opportunity Funds, an Israeli private equity firm, which acts as the controlling shareholder with a beneficial ownership of approximately 38% of the outstanding ordinary shares as of March 5, 2025. This significant stake underscores FIMI's substantial influence over Kamada's strategic direction. Other notable institutional investors include Phoenix Holdings Ltd., Renaissance Technologies LLC, Wells Fargo & Company/mn, VGTSX - Vanguard Total International Stock Index Fund Investor Shares, Millennium Management LLC, Y.D. More Investments Ltd, VTMGX - Vanguard Developed Markets Index Fund Admiral Shares, IZRL - ARK Israel Innovative Technology ETF, and Acadian Asset Management Llc. Phoenix Investments & Finances Ltd. held 3,994,539 shares, representing 6.95% ownership as of March 31, 2025, while Renaissance Technologies LLC held 808,305 shares, equating to 1.41% ownership. Furthermore, individual insiders collectively possess 7.22% of the company's shares. A significant capital infusion occurred in May 2023 when Kamada agreed to a private placement of 12,631,579 ordinary shares with First Israel Mezzanine Investors Ltd., raising gross proceeds of $60 million, which would have impacted the overall Kamada company ownership breakdown.
Key Kamada Shareholders
Understanding Kamada company investors is crucial for assessing its stability and growth potential. The company's ownership is a mix of institutional and insider holdings.
- FIMI Opportunity Funds is the controlling shareholder.
- Phoenix Investments & Finances Ltd. is a significant institutional investor.
- Renaissance Technologies LLC also holds a notable stake.
- Individual insiders collectively own over 7% of the company.
- The company's ownership history includes a U.S. IPO in 2013.
- Recent private placements have also influenced Kamada stock ownership.
- For a deeper dive into market dynamics, explore the Competitors Landscape of Kamada.
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Who Sits on Kamada’s Board?
Kamada's Board of Directors is instrumental in guiding the company's strategic direction and ensuring robust corporate governance. The board comprises individuals who represent significant Kamada company investors, the company's founders, and independent directors, bringing diverse expertise to their oversight roles.
| Director Name | Role | Shareholding |
|---|---|---|
| Leon Recanati | Independent Director | 5.97% |
| David Tsur | Co-founder, Independent Deputy Chairman | 1.06% |
| Lilach Asher Topilsky | Chairman of the Board | N/A |
| Amir London | Chief Executive Officer | N/A |
Voting power within Kamada is primarily vested in its ordinary shareholders, with each ordinary share typically granting one vote on matters presented at shareholder meetings. The election of directors, excluding external directors, is determined by a simple majority of the votes cast. However, certain significant corporate actions, as stipulated by Israeli Companies Law, require enhanced voting thresholds. For instance, resolutions concerning mergers necessitate approval from at least 66% of the voting rights represented at a shareholder meeting.
Understanding Kamada's Shareholder Structure
The voting power at Kamada is distributed among its shareholders, influencing key decisions. Understanding who owns Kamada and their respective voting rights is crucial for comprehending the company's governance dynamics.
- Ordinary shareholders hold voting rights proportional to their share ownership.
- Director elections are based on a simple majority of votes cast.
- Specific resolutions require supermajority approvals, such as 66% for mergers.
- The board composition reflects representation from major Kamada company investors and founders.
- This structure ensures that significant Kamada shareholders have a voice in corporate governance.
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What Recent Changes Have Shaped Kamada’s Ownership Landscape?
In recent years, Kamada has seen significant financial growth and strategic expansion, influencing its ownership landscape. The company's strong performance, including record revenues and profitability, positions it for continued development and potential shifts in its shareholder base.
| Metric | Value | Year |
|---|---|---|
| Revenue | $161.0 million | 2024 |
| Revenue Growth | 13% | 2024 vs 2023 |
| Adjusted EBITDA | $34.1 million | 2024 |
| Adjusted EBITDA Growth | 42% | 2024 vs 2023 |
| Projected Revenue 2025 | $178 million - $182 million | 2025 |
| Special Cash Dividend | $0.20 per share | March 2025 |
The ownership structure of Kamada shows a growing presence of institutional investors, with 65 such entities holding over 5.8 million shares as of July 2025. Despite this increase in institutional backing, FIMI Opportunity Funds remains the primary controlling shareholder, maintaining approximately 38% of the company's ownership. This balance between a significant controlling stake and expanding institutional interest highlights a dynamic ownership trend.
Institutional Investor Growth
As of July 2025, 65 institutional owners collectively hold more than 5.8 million shares. This indicates a rising interest from financial institutions in the company's performance and future prospects.
Controlling Shareholder
FIMI Opportunity Funds continues to be the majority stakeholder, possessing approximately 38% of the company's shares. This substantial stake signifies their significant influence over the company's strategic direction.
Strategic Expansion Initiatives
Kamada is actively expanding its plasma collection network, with a new center opening in San Antonio, Texas, by the end of Q1 2025. This move supports the company's revenue growth and the increasing demand for hyper-immune plasma.
Business Development Focus
The company is actively pursuing opportunities in business development, in-licensing, collaborations, and potential mergers and acquisitions. These efforts aim to strengthen its product portfolio and capitalize on its financial stability, aligning with its Growth Strategy of Kamada.
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