8th May 2006 11:03
United Drug PLC08 May 2006 UNITED DRUG ACQUIRES UK BASED MEDICAL DISTRIBUTOR FOR OVER STG£6 MILLION United Drug plc, a leading provider of services to pharmaceutical retailers andhealthcare manufacturers in the UK and Ireland today (Monday, 8th May 2006),announced that it has acquired the full share capital of Endoscopy UK Limitedand Mediscope Limited (together known as Endoscopy), a high quality UK-basedmedical distributor, specialising in the sales and technical support of flexibleendoscopy equipment. Endoscopy, based near the Forest of Dean in Gloucestershire, differentiatethemselves by providing a superior level of service to public and privatehospital customers throughout the UK. Endoscopy will continue to service itsclients through its experienced management team and sales infrastructure. The consideration for the acquisition is Stg£6.1 million in cash, payable oncompletion, plus an additional consideration of up to Stg£1.3 million, payableon achievement of agreed profit targets over the next 12 months. Speaking today, United Drug's Chief Executive, Liam FitzGerald, said: "This acquisition complements and builds upon United Drug's already strong position as a provider of quality sales, distribution and service solutions for medical and scientific manufacturers in the UK market. "The acquisition of Endoscopy further demonstrates our ability to grow our Medical & Scientific business successfully in the UK through bolt-on acquisitions of high quality companies that add value to United Drug's offering and meet the growing demand for cost-effective outsourced services from healthcare manufacturers". Ends. Monday, 8th May 2006 For reference: Liam FitzGerald Pauline McAlester / Grainne O'BrienUnited Drug plc Murray ConsultantsTel: +353-1-4598877 Tel: +353-1-4980300 Note to Editors: During the last year, United Drug has acquired three business in the UK,representing an investment of up to Stg£30 million, including: •TD Packaging Limited - a UK based leading provider of primary and secondary packaging solutions to the international pharmaceutical and health manufacturer industries. •In2Focus Sales Development Services Limited - a leading provider of contract sales services in the UK market. •Presearch Limited - a high quality UK based laboratory distributor supplying some of the leading pharmaceutical companies and research institutions. In 2005, United Drug's Medical & Scientific Division delivered the first 'DaVinci' Surgical Robot into the UK's Private Healthcare sector, to The Princes Grace Hospital in London. One of the most sophisticated and technologically advanced medical devices available in the world today, benefiting patients and surgeons. This highly advanced technology allows Consultants conduct procedures such as cardiac surgery, prostatectomy, gynecological and interfility operations, utilising minimally invasive surgery techniques (MIS). 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 €800 million. The Company has a long-term high growth earning track record,reporting in excess of 20% growth over the past five years. 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 Photographicproducts (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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