United Drug buys UK medical consultancy for €16m

United Drug plc has bought Watermeadow Medical Limited and Watermeadow Medical Consulting Inc. for £13m (€16m).

United Drug, which provides services to healthcare manufacturers and pharmaceutical retailers, said £6m (€7.4m) is payable in cash on completion with an additional amount of up to £7m (€8.7m) payable based on achievement of agreed profit targets over the next two years.