13th Dec 2007 13:37
United Drug PLC13 December 2007 UNITED DRUG ACQUIRES LEADING IRISH ANALYTICAL CHEMISTRY DISTRIBUTOR Dublin and London - Thursday, 13th December 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 JVA Analytical Limited ("JVA") a leading specialist AnalyticalChemistry distributor based in Dublin. JVA is a supplier of laboratory instrumentation, consumables, services andsupplies to Ireland's analytical, environmental, educational and regulatorylaboratories. The business currently employs 19 people, including seniormanagement, all of whom will remain with the business. The consideration for the acquisition is €16.5 million in cash, payable oncompletion, plus an additional consideration of up to €4.5 million payable basedon achievement of agreed targets over the next 24 months. Speaking about the Company's new acquisition today, United Drug's ChiefExecutive, Liam FitzGerald said: "We are delighted to announce the acquisition of JVA. The company has a long established reputation as a high quality provider of equipment and services to the Analytical Chemistry sector in Ireland. JVA will form an important part of our Medical & Scientific Division and broadens the range of customers to whom we provide support and services. "I would like to welcome all management and staff of JVA 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. Thursday, 13th December 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. Through its Medical & Scientific division, United Drug provides sales &marketing and technical service solutions, including contract distributionservices to Medical & Scientific equipment & consumable manufacturers, with amarket leading position 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