UDG in €18m PR firm takeover

UDG Healthcare has expanded the capabilities of its global healthcare communications division via an €18m acquisition of a public relations firm.

The Dublin-headquartered diversified healthcare services group — which has its shares listed in London — yesterday announced the takeover of UK-based specialist healthcare and scientific PR businesses, Galliard and Nyxeon; through their holding firm MFRHRC Holdings Ltd.

UDG is spending £6.5m (€8.1m) net cash on completion of the deal, with an additional £6.5m (£13m in total) payable based on the achievement of agreed profit targets over the next three years.