20th Nov 2007 12:00
United Drug PLC20 November 2007 UNITED DRUG ACQUIRES UK BASED PHARMACEUTICAL SALES AND MARKETING SERVICES COMPANY Dublin and London - Tuesday, 20th November 2007: United Drug plc, a leadinginternational provider of services to healthcare manufacturers andpharmaceutical retailers today announced that it has acquired the entire issuedshare capital of Procon Conferences Limited ("Procon") a UK pharmaceuticalconference services company based in Harrogate, North Yorkshire. Procon provides full corporate event management services targeted specificallyat the pharmaceutical and healthcare sector. These services include venuefinding, association and secretariat membership, delegate registration throughto full event management. The business currently employs 28 people, includingsenior management, all of whom will remain with the business. The consideration for the acquisition is Stg£4.2 million in cash, payable oncompletion, plus an additional consideration of up to Stg£1.2 million payablebased on achievement of agreed targets over the next 12 months. Speaking about the Company's acquisition today, United Drug's Chief Executive,Liam FitzGerald said: "We are delighted to announce the acquisition of Procon. The company is a well established and very highly regarded supplier of value-added services to the healthcare sector. Procon will form an important part of our Contract Sales and Consultancy Outsourcing division and help us broaden the range of services we provide to our customers. "I would like to welcome all management and staff of Procon to the United Drug Group and we look forward to working with them to build upon their success to date, as we continue our development as a leading international healthcare services company". ENDS. Tuesday, 20th November 2007 For reference: Liam FitzGerald Pauline McAlester/Robert Marshall United Drug plc Murray Consultants Tel: +353-1-4598877 Tel: +353-1-4980300 Investors and Analysts Mark Kenny/Jonathan Neilan K Capital Source Tel: +353-1-6315500 About United Drug plc United Drug is a leading international provider of services to healthcaremanufacturers and pharmaceutical retailers. It is the largest pharmaceuticalwholesaler in the island of Ireland. UD is the market leader in contract distribution outsourcing (pre-wholesaling)in Ireland and has achieved the No. 1 position in the UK through its jointventure business UniDrug Distribution (UDG). The Company also providesdistribution related services in the areas of pharmaceutical contract packagingand speciality distribution in the UK, Holland and Belgium. In addition to contract distribution services for pharma manufacturers, UnitedDrug provides contract distribution, sales & marketing and technical services toMedical & Scientific equipment & consumable manufacturers, with a market leadingposition in Ireland and an emerging presence in the UK. United Drug is also a leading provider of contract sales outsourcing services topharmaceutical manufacturers in the UK and Ireland and also provides theseservices in the US market. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
UDG.L