TIDMUDG
RNS Number : 8111K
UDG Healthcare Public Limited Co.
12 July 2017
UDG Healthcare announces the acquisition of US-based
healthcare
consultancy firm for up to $32m
12 July 2017: UDG Healthcare plc ("the Group"), a leading
international healthcare services provider, is pleased to announce
the acquisition of Vynamic LLC, a US-based healthcare industry
management consulting firm, for a total consideration of up to
$32m.
Vynamic is headquartered in Philadelphia and its primary service
offerings include: brand strategy, planning and launch, advanced
commercial operations capabilities, strategic transformation and
integration, product design and implementation, change leadership
and business intelligence and analytics.
The acquisition of Vynamic is in line with Ashfield's strategy
to expand its advisory services to the healthcare industry and
follows the acquisition of STEM in October 2016. It is the Group's
first management consultancy acquisition and offers services which
are highly complementary to the existing range of services provided
by Ashfield.
Vynamic is being acquired for an initial consideration of $22
million, with an additional consideration of up to $10 million
payable over the next three years, based on the achievement of
agreed profit targets. The business has been acquired for an
upfront multiple of c. 7x EBIT.
Commenting on the announcement, Brendan McAtamney, CEO of UDG
Healthcare plc, said: "We are delighted to announce the acquisition
of Vynamic, which expands our advisory offering and adds an
additional capability offering for our global healthcare clients.
Vynamic is an excellent fit for UDG Healthcare, both strategically
and culturally, and demonstrates our strategic commitment to
developing our market leading positions through geographic and
services expansion."
Vynamic Founder and CEO, Dan Calista said: "Joining UDG
Healthcare creates tremendous value for our clients and the people
of Vynamic. We will have additional capabilities to service clients
around the world, while creating new career opportunities for our
people in a company culture that aligns with Vynamic's values."
Further to the announcement on 23 May, UDG Healthcare can
confirm it has also received competition approval for the
acquisition of Sellxpert GmbH, a German contract sales outsourcing
business for a total potential consideration of up to $14.4
million.
Contact
UDG Healthcare
Alan Ralph Keith Byrne
CFO Head of IR, Strategy & Corporate Communications
Tel: +353-1-468-9000 Tel: + 353-1-468-9000
Powerscourt
Lisa Kavanagh / Jack Hickey
Tel: +44-207-250-1446
Email: udghealthcare@powerscourt-group.com
About UDG Healthcare plc:
UDG Healthcare plc (LON: UDG) is a leading international partner
of choice delivering commercial, clinical, communications and
packaging services to the healthcare industry, employing over 8,000
people with operations in 23 countries and delivering services in
over 50 countries.
UDG Healthcare plc operates across three divisions: Ashfield,
Sharp and Aquilant.
Ashfield is a global leader in commercialisation services for
the pharmaceutical and healthcare industry, operating across two
broad areas of activity: commercial & clinical services, and
communications services. It focuses on supporting healthcare
professionals and patients at all stages of the product life cycle.
The division provides field and contact centre sales teams,
healthcare communications, patient support, audit, advisory,
medical information and event management services to over 300
healthcare companies.
Sharp is a global leader in contract commercial packaging and
clinical trial packaging services for the pharmaceutical and
biotechnology industries, operating from state of the art
facilities across the US and Europe. Sharp is also a world leader
in 'Track and Trace' serialisation services, which will require all
prescription drugs to have a unique serial code for authentication
and traceability.
Aquilant is a leading provider of outsourced sales, marketing,
distribution and engineering services to the medical and scientific
sectors in the UK, Ireland and the Netherlands.
The company is listed on the London Stock Exchange and is a
constituent of the FTSE 250.
For more information, please go to: www.udghealthcare.com
About Vynamic
Vynamic is a US healthcare industry management consulting firm
headquartered in Philadelphia. Spanning all sectors of the
interwoven healthcare industry, Vynamic's primary service offerings
include: brand strategy, planning and launch, advanced commercial
operations capabilities, strategic transformation &
integration, product design & implementation, change leadership
and business intelligence & analytics. The business was founded
in 2002 and has shown impressive growth to become a team of 100
employees.
For more information, please go to: https://vynamic.com
This information is provided by RNS
The company news service from the London Stock Exchange
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