Irish healthcare services company United Drug has acquired UK-based InforMed for £11.4 million.
Irish healthcare services company United Drug has acquired UK-based InforMed for £11.4 million.
Under the terms of the deal an initial payment of £11.4 million will be followed by a further performance-related sum of up to £5.9 million paid over the next three years. The acquisition is to be financed from United Drug’s internal cash resources and existing debt facilities.
InforMed is a healthcare communications and market research agency for pharmaceutical and biotechnology companies. Its current clients include Astra Zeneca and Baxter. The Greater Manchester-based company also has offices in the US and employs 80 staff. All of InforMed’s employees are to remain with the company, which will be integrated into United Drug’s sales and marketing division.
Liam FitzGerald, United Drug’s chief executive, says: ‘The acquisition significantly adds to our offering, both in the UK and the US, in the growing Contract Sales & Marketing Services division.’
Dublin-based United Drug provides sales, marketing and logistics services to healthcare and pharmaceuticals suppliers. The company employs around 6,000 staff across the US and Europe and in 2009 declared a pre-tax profit of €66.9 million (£55 million) on a turnover of €1.7 billion. The acquisition of InforMed is predicted to be immediately accretive to United Drug’s earnings.
