Uniphar enters Nordic and Baltic markets with acquisition
Uniphar, Ireland's biggest pharmaceutical wholesaler and distributor, has entered the Nordic and Baltic markets with the acquisition of medtech service provider, EPS Group.
It has also purchased Irish-based M3 Medical.
The total potential cost of the two acquisitions is €40m over four years, with the deferred consideration to be linked to the earnings performance of the businesses over the four year period. Both EPS Group and M3 Medical deliver sales, marketing and distribution services to medical device manufacturers in the areas of interventional cardiology and vascular medicine.
The EPS Group delivers these services across Sweden, Denmark, Norway, Finland, Iceland and the Baltics.
The acquisitions are another development in the roll-out of Uniphar's pan-European growth strategy for its commercial and clinical division.
Ger Rabbette, CEO of Uniphar said: “These acquisitions are a key strategic step in Uniphar's plan to offer its pharmaco-medical clients a pan-European service by adding new countries and new agencies to our roster.”
“With this development, we add to our already considerable expertise in the area of interventional technologies in key therapeutic areas, and Uniphar advances its ambition to become a leading independent distributor of medical devices throughout Europe.”
On a proforma basis for the full year ending 31 December 2019 the acquisitions in aggregate are expected to deliver revenue of an estimated €22m.
By Ellie Donnelly for Independent.ie