13th Jun 2016 06:57
LONDON (Alliance News) - Drug development services company Ergomed PLC said Monday it has acquired two German service providers to complement and enhance its existing capabilities.
Ergomed has bought Dr. Oestreich + Partner GmbH, a contract research organisation based in Cologne, and Gesellschaft fur angewandte Statistik + Datenanalyse mbH, a statistics and data management company based in Neuss, from their founders.
The combined revenue of the two businesses was around EUR1.3 million in 2015, and the acquisitions are expected to be earnings enhancing, Ergomed said.
Ergomed said it will pay a portion of the consideration through the issue of 138,329 new shares at a price of 137 pence apiece, meaning they are worth GBP189,511. Shares in Ergomed last closed at 136.00p.
Further financial details of the acquisitions were not disclosed, including the total consideration.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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