18th Sep 2015 08:36
LONDON (Alliance News) - Healthcare services company UDG Healthcare PLC on Friday said it entered into a conditional agreement to sell its United Drug Supply Chain Services and its MASTA unit for EUR407.5 million to McKesson Corp, the US drug distribution company.
FTSE 250-listed UDG said it will sell the businesses to McKesson in cash and said the sale is in line with its plan to focus on higher growth, higher margin international healthcare services businesses.
The net proceeds from the sale will be used to develop and strengthen its Ashfield Commercial and Medical Services division, its Aquilant laboratory distribution arm and its Sharp Packaging Services unit.
UDG also said it has nominated Brendan McAtamney to be its new chief executive, replacing Liam Fitzgerald. McAtamney is currently UDG's chief operating officer.
Shares in UDG were up 3.3% to 509.00 pence on the news, the best performer in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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