United Drug acquires InforMed Group in deal worth €13.7m

HEALTHCARE firm United Drug has acquired the InforMed Group of companies in a deal valued at almost €14 million.

Manchester-based InforMed also has offices in the US and employs 80 people. It provides healthcare communications and consultancy services to a range of global pharmaceutical and biotechnology companies.

All the workers will be kept on after the deal.

United Drug, which provides services to healthcare manufacturers and pharmaceutical retailers, said the deal is worth £11.3m (€13.7m) with an additional £5.9m (€7.18m) payable on agreed profit targets over the next three years.

The company said the deal will be financed from United’s Drugs resources and existing debt facilities and said it expects it to be immediately earnings enhancing.

United Drug chief executive Liam Fitzgerald said: “The acquisition significantly adds to our offering, both in the UK and the US, in the growing contract sales and marketing services division.”

United Drug reported pre-tax profits of €31.5m for the six months to the end of March 2010, a 5% increase on €30m recorded a year earlier. Group revenues were flat at €853m.