Sale nets UDG Healthcare €80m to cut debt and invest

UDG Healthcare has raised more than €80m for deleveraging and further investment purposes through the sale of its share of a UK-based drug distribution business.

The Dublin-based diversified healthcare services group — previously known as United Drug — yesterday announced the €82m cash sale of its 50% share of the UniDrug Distribution business to its joint-venture partner, Alliance Boots.

The UniDrug business provides pre-wholesale supply chain solutions to the healthcare industry in the UK. It contributed a net after-tax profit of €5.6m to UDG in its last financial year.