30th Jun 2005 15:19
United Drug PLC30 June 2005 UNITED DRUG ACQUIRES UK DISTRIBUTOR United Drug plc, a leading healthcare services provider today (Thursday, 30thJune 2005) announced that it had acquired the full share capital of PresearchLimited, a high quality UK based laboratory distributor supplying some of theleading pharmaceutical companies and research institutions. Presearch is based in Hitchin in Hertfordshire, and represents a range ofinternational manufacturers across the UK with particular specialisation in thearea of chromatography. Presearch will continue to service its clients and growits business, through its experienced management team and sales infrastructure.This acquisition complements and builds upon United Drug's already strongposition, as a provider of quality distribution, sales and service solutions formedical and scientific manufacturers in the UK market. The consideration for the acquisition is Stg£2.9 million in cash, payable oncompletion, plus an additional consideration of up to Stg£0.6 million, payableon achievement of agreed profit targets over the next 12 months. Speaking today, United Drug's Chief executive, Liam FitzGerald said: "The acquisition of Presearch further enhances our total offering to clients and continues to demonstrate the Group's ongoing strategic commitment to meeting the outsourced service needs of local and international healthcare manufacturers, and to continue providing relevant cost-effective service solutions for the healthcare industry". Ends. Thursday, 30th June 2005 For reference: Liam FitzGerald Pauline McAlesterUnited Drug plc Murray ConsultantsTel: 00-353-1-4598877 Tel: 00-353-1-4980300 Note to Editors United Drug was founded in 1948 and is a leading healthcare services provider topharmaceutical retailers and manufacturers in the UK and Ireland, operating infour key business divisions: Pharma Wholesale; Contract Sales Outsourcing;Contract Distribution Outsourcing, and Medical & Scientific. The Company employsover 2,000 people through its operations in Ireland and the UK. United Drug islisted on the Irish and UK Stock Exchanges and has a market capitalisation ofover €750 million. The Company has a long-term high growth earning track record,reporting in excess of 20% growth over the past five years. This is the third UK acquisition announced by United Drug this month: 2/6/05 Acquisition of the full share capital of In2Focus Sales Development Services Limited, a leading provider of contract sales services in the UK market. 10/6/05 Acquisition of TD Packaging Limited, a UK based leading provider of primary and secondary packaging solutions* to the international pharmaceutical and healthcare manufacturer industries. United Drug's operations Strategic Positioning: Pharma Wholesale - No. 1 Wholesaler (Ireland and Northern Ireland) Contract SalesOutsourcing - Strong player (UK and Ireland) Contract DistributionOutsourcing - Pharma No. 1 Distributor to Wholesalers and Hospitals (UK and Ireland) - Consumer No. 1 in Cosmetic and Photographic products (Ireland) Medical & Scientific - No. 1 Biotech Supply Company (Ireland) - Growing business in the UK. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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