2nd Feb 2007 13:23
United Drug PLC02 February 2007 UNITED DRUG ACQUIRES UK BASED MEDICAL DISTRIBUTOR FOR UP TO Stg£8.5 MILLION United Drug plc, a leading provider of services to pharmaceutical retailers andhealthcare manufacturers in the UK and Ireland today (Friday, 2nd February 2007)announced that it has acquired the entire share capital of Pyramed Limited, aspecialist UK based distributor of medical devices and equipment. Pyramed, based at Surbiton in Surrey, employs 22 people and represents a numberof international manufacturers in the UK market. The company specialises in thesale and distribution of intraventional cardiology and vascular products, andrelated medical devices. Pyramed has a well established reputation reflectingits best-in-class clinical and technical knowledge. The senior management of theCompany will remain with the business. The consideration for the acquisition is Stg£5.0 million in cash plus Stg£1.0million in United Drug plc shares, payable on completion, plus an additionalconsideration of up to Stg£2.5 million payable, based on achievement of agreedprofit targets over the next two years. Speaking today, United Drug's Chief Executive, Liam FitzGerald said: "The acquisition of Pyramed is a significant development for our Medical & Scientific Division in the UK market. Pyramed is a high quality service provider in the UK medical market and this business will strengthen our offering in this market, as well as providing us with further opportunities for growth. "The acquisition is further evidence of our ability to bolt on additional high value added business to our existing capabilities in the UK market". Application has been made to the Irish and London Stock Exchanges for theconsideration shares to be admitted. Ends. Friday, 2nd February 2007 For reference: Liam FitzGerald Pauline McAlester / Robert MarshallUnited Drug plc Murray ConsultantsTel: +353-1-4598877 Tel: +353-1-4980300 Investors and AnalystsMark Kenny / Jonathan NeilanK Capital SourceTel: +353-1-6315500 Note to Editors: United Drug plc is a leading provider of services to pharmaceutical retailersand healthcare manufacturers in the UK and Ireland, operating in four keybusiness divisions: Pharma Wholesale; Supply Chain Services; Medical &Scientific; and Contract Sales Outsourcing. The Company, founded in 1948,employs almost 2,500 people through its operations in the UK and Ireland. UnitedDrug is listed on the Irish and London Stock Exchanges and has a marketcapitalisation of over €900 million. The Company has a long-term high growthearning track record, reporting annual double digit profit and earnings growthfor over the last 20 years. United Drug has grown and developed its UK business aided by the acquisition ofhigh quality companies that add value to the Company's offering and meet thegrowing demand for cost-effective outsourced services from healthcaremanufacturers. This development strategy includes acquiring five UK companieswithin the last two years: •In2Focus Sales Development, a leading provider of contract sales services in the UK market (2nd June 2005). •TD Packaging Limited, a UK based leading provider of primary and secondary packaging solutions to the international pharmaceutical and healthcare manufacturer industries (10th June 2005). •Presearch Limited, a high quality UK based laboratory distributor supplying some of the leading pharmaceutical companies and research institutions (30th June 2005). •Endoscopy UK Limited and Mediscope Limited, together known as Endoscopy is a high quality UK based medical distributor, specialising in the sales and technical support of flexible endoscopy equipment (8th May 2006). •MASTA, a leading service provider in the travel health field, specialising in the sale and distribution of vaccines, medical information and clinical services (5th July 2006). United Drug's operations Strategic Positioning: Pharma Wholesale - No. 1 Wholesaler (Ireland and Northern Ireland) Supply Chain Services - Pharma No. 1 Distributor to Wholesalers and Hospitals (UK and Ireland) - Consumer No. 1 in Cosmetic and Photographic products (Ireland) Medical & Scientific - No. 1 Medical and Clinical Diagnostics Distributor (Ireland) - Growing business in the UK (First Company to deliver the 'DaVinci' Surgical Robot into the UK's Private Healthcare sector, to The Princes Grace Hospital in London. The 'DaVinci' Robot is one of the most sophisticated and technologically advanced medical devices available in the world today). Contract SalesOutsourcing - No. 1 Service Provider (UK and Ireland) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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