United Drug to buy JVA for up to €21m

DUBLIN-BASED international drug wholesale group United Drug has completed its seventh acquisition of the year by buying Irish company JVA Analytical for an initial consideration of €16.5 million in cash.

United Drug will pay an additional €4.5m for JVA depending on certain agreed performance targets being met over the next two years. The latest acquisition will act as a bolt-on to United Drug’s medical and scientific division and will broaden the range of customers to whom it provides support and services.

Commenting on the deal, United Drug chief executive Liam FitzGerald said: “(JVA) has a long established reputation as a high quality provider of equipment and services to the analytical chemistry sector in Ireland. It will form an important part of our medical and scientific division.”

JVA is a Dublin-based company which supplies laboratory instrumentation, consumables, services and supplies to Ireland’s analytical, environmental, educational and regulatory laboratories. It employs 19 people and all staff — including senior management — will remain with the company under its new parentage.

Last month, United Drug reported a 15% rise in pre-tax profits for the 12 months to the end of September to €62.3m and an 8% increase in group revenue to €1.58 billion.

At about the same time, the group announced the acquisition of English-based sales and healthcare marketing/conference facilities company, Procon Conferences.