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Acquisition

11th Aug 2010 14:47

RNS Number : 9275Q
United Drug PLC
11 August 2010
 

United Drug acquires global healthcare communications group

 

UDG.I UDG.L

 

 

Dublin and London, 11 August 2010: United Drug plc ("UD" or the "Group"), a leading international provider of services to healthcare manufacturers and pharmaceutical retailers today announced that it has acquired the entire issued share capital of The InforMed Group of companies ("InforMed") for a consideration of £11.4 million.

 

Transaction highlights

 

·; The acquisition enhances UD's marketing services capability in the UK and the US and broadens the range of services provided by the Contract Sales & Marketing Services division.

 

·; The consideration of £11.4 million in cash is payable on completion with an additional amount of up to £5.9 million payable based on agreed profit targets over the next 3 years.

 

·; The acquisition will be financed from UD's internal resources and existing debt facilities.

 

·; The transaction is expected to be immediately accretive to UD earnings.

 

 

InforMed

 

InforMed, is based in Macclesfield, near Manchester and has offices in the US, employing a total of 80 people. InforMed provides healthcare communications and consultancy services to a range of global pharmaceutical and biotechnology companies. These services include medical writing and publication planning, market research and business analysis and marketing and sales training and consultancy.

 

InforMed will be integrated into the Group's Contract Sales & Marketing Services division and all employees will remain with the Group.

 

 

 

 

 

 

 

Speaking about the acquisition today, United Drug's Chief Executive, Liam FitzGerald said:

 

"We are delighted to announce the acquisition of InforMed. The acquisition significantly adds to our offering, both in the UK and the US, in the growing Contract Sales & Marketing Services division. InforMed has an excellent management team and I am delighted to welcome them to the Group."

 

 

 

ENDS Wednesday, 11 August 2010

 

For reference:

 

Liam FitzGerald Pauline McAlester

Barry McGrane

United Drug plc Murray Consultants

Tel: +353-1-4632300 Tel: +353-1-4980300

 

 

 

About United Drug plc

Listed on the Stock Exchanges in London and Dublin, United Drug is a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, with operations in the UK, Ireland, The Netherlands, Belgium, Sweden and the USA. 

The Company operates across three divisions, Healthcare Supply Chain, Packaging & Speciality Services, and Contract Sales & Marketing Services.

In Healthcare Supply Chain, United Drug is the largest pharmaceutical wholesaler in the island of Ireland. It is also the market leader in contract distribution outsourcing (pre-wholesaling) in Ireland and has achieved the No. 1 position in the UK through its joint venture business UniDrug Distribution Group (UDG). The Company provides specials medicines manufacturing and distribution services in the UK. Through its medical & scientific operations, United Drug provides sales & marketing and technical service solutions, including contract distribution services to a wide range of medical & scientific equipment & consumable manufacturers, with a market leading position in Ireland and an emerging presence in the UK.

In the Contract Sales & Marketing Services division United Drug is the leading provider of contract sales outsourcing services to pharmaceutical manufacturers in the UK and Ireland and has a growing presence in the US market. United Drug also provides related marketing services to pharmaceutical manufacturers in each of these markets.

In the Packaging & Speciality division United Drug is a leading international provider of pharmaceutical contract packaging services with facilities in the US, UK, Dutch and Belgian markets. The Company also provides speciality distribution and homecare services in the UK and Ireland.

For more information go to www.united-drug.ie 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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