2nd Jun 2005 16:17
United Drug PLC02 June 2005 United Drug Acquires In2Focus in the UK United Drug plc, Ireland's leading healthcare services provider today (Thursday,2nd June 2005) announced that it has acquired the full share capital of In2FocusSales Development Services Limited, a leading provider of contract salesservices in the UK market. In2Focus SDS is based in Berkshire, employing over 300 people and serving manyleading international pharmaceutical manufacturer clients. This acquisition complements and builds upon United Drug's already strongposition in the UK CSO market through its subsidiary Ashfield Healthcare, andthese businesses will serve a broad spectrum of some of the world's leadinghealthcare manufacturers. In2Focus will continue to service its clients through its well established brandproposition, infrastructure and management team. Through this partnership wewill seek to maximise the efficiency, professionalism and technology throughwhich contract sales services are delivered to all clients across the UK andIreland. Consideration for the acquisition is Stg£10.308 million in cash, payable oncompletion, plus an additional consideration of up to Stg£4.7 million, payableon achievement of agreed profit targets for the two years to 31st May 2007.The combined businesses will create a strong presence in a market where UnitedDrug has experienced good growth through its acquisition of Ashfield Healthcarein May 2000. Speaking this afternoon, United Drug's Chief Executive, Liam FitzGerald, said: "This acquisition enhances United Drug's already strong position in the UK CSO market. Our expanded presence in this market affords the Group excellent opportunities to broaden our client base, further develop our service offering, and gives us access to additional strong management as we continue to service many of the world's leading healthcare companies". Ends. Thursday, 2nd June 2005 For reference:Liam FitzGerald Pauline McAlesterUnited Drug plc Murray ConsultantsTel: 00-353-1-4598877 Tel: 00-353-1-4980300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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