Uniphar eyeing Nordic and Baltic acquisitions

Irish pharmacy and healthcare services group Uniphar is understood to be eyeing acquistions in the Nordic and Baltic regions, with at least one purchase possible before the end of the year.

The company last month completed its first acquisition - specialist international pharmaceuticals supplier Durbin - since raising €135m through its IPO in July. While some of those funds will also go to reducing its debt levels, Uniphar is actively seeking acquisitons to boost its international presence.

In recent years, the owner of the Life and Allcare retail pharmacy chains has boosted its wholesale, distribution and supply divisions through the purchase of Sisk Healthcare and Cahill May Roberts.

It is believed that any deal being lined up would surround Uniphar's strongly performing and key commercial and clinical division, which acts as a value-added support services go-between linking pharmaceutical product manufacturers and their customers.

Uniphar's first set of financial results as a publicly-quoted company - covering the six months to the end of June - show it generated revenues of €800.6m, 20% higher than in the corresponding period last year.

Profit before tax and exceptional items surged by 175% to €13.8m.

"The successful IPO in July provides a platform for a steady growth trajectory," said group chief executive Ger Rabbette.

"We are on a firm footing for the second half of the year, going into 2020 and the next stage of our planned development in delivering our five-year strategy," he said.