United drug acquire travel health service provider

United Drug plc has today announced that it has acquired the entire share capital of MASTA (Medical Advisory Service for Travellers Abroad Limited).

The consideration for the acquisition of MASTA is £14.5m (€20.95m) in cash, payable on completion, plus an additional sum of up to £4.5m (€6.5m), payable based on achievement of agreed profit targets over the next two years.

“The acquisition of MASTA is an exciting development for United Drug,” said chief executive Liam FitzGerald today.

“MASTA, as a high quality service provider in the travel health field, considerably adds to our presence as a provider of healthcare services in the UK and will provide further opportunities for growth.

“The acquisition of MASTA and our new Northern Ireland investment is further evidence of our ability as a Group to build on our existing expertise and broaden our offering of top quality services to our partners and customers in all the markets in which we operate.”

United Drug also announced that it has made a minority 25% equity investment in the Medicare Group, a healthcare and retail organisation based in the North.