Irish healthcare group Uniphar enters German medtech market

The acquisition of CoRRect is part of Uniphar'splan to develop "a truly pan-European offering for our partners".

Irish pharmacy and healthcare services group Uniphar has entered the German market through the acquisition of local company CoRRect Medical for an undisclosed sum.

Uniphar — whose business covers retail, distribution, sales, and marketing — is already active in Ireland, Britain, the US, Scandinavia, the Baltic states, and the Benelux region.

Germany, France and other countries in mainland Europe have long since been earmarked as expansion targets.

The acquisition of CoRRect — which specialises in the commercialisation and distribution of medical device products in the interventional cardiology sector in Germany and Switzerland — gives Uniphar a firm foothold in the European medtech sector. Germany alone accounts for 25% of the sector.

The acquisition of CoRRect Medical accelerates our entry into Germany, the largest medtech market in Europe, and underpins our focus on developing a truly pan-European offering for our partners,” said Uniphar CEO Ger Rabbette.

"CoRRect Medical's strong relationships with German and Swiss physicians and hospitals, combined with Uniphar's expertise and deep manufacturer relationships, will provide a unique offering for medtech customers seeking to commercialise across Europe."

Shares in Uniphar — which issues a trading update next week — were largely unmoved.