3rd Jul 2018 08:14
LONDON (Alliance News) - UDG Healthcare PLC said Tuesday it has acquired two US-based businesses for up to USD82.4 million.
The healthcare services provider bought creative communications agency Create NYC and analytics business SmartAnalyst.
Create NYC's total consideration is USD58.4 million, of which USD17 million have been paid upfront. SmartAnalyst was bought for USD24 million, with an initial consideration of USD18 million.
"We are delighted to announce these two acquisitions, which further expand the services we offer our healthcare clients," Chief Executive Officer Brendan McAtamney said.
"Both transactions meet all of UDG's acquisition criteria - they are a good strategic and cultural fit; meet our target financial hurdle rates; and involves an expansion of our current capabilities."
Separately, UDG Healthcare said that it has appointed Erik Van Snippenberg as non-executive director, effective Monday.
Van Snippenberg spent almost 30 years at GlaxoSmithKline PLC where he held a number of senior executive roles in GSK's global pharmaceutical business. Most recently, he held the position of Senior Vice President & Area Head for Europe and Canada.
The company also said that Chris Corbin has decided to bring forward his retirement date as executive chairman of Ashfield division to June 30. He was originally due to retire as chairman of the unit in April 2019.
Corbin additionally has agreed to extend his term on the UDG board as a non-executive director at the request of the company and subject to re-election at the UDG's annual general meeting.
UDG shares were trading 1.9% higher at 839.00 pence each early Tuesday.
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GlaxosmithklineUDG.L