Acquisition of Diligent Health Solutions

RNS Number : 7880Z

Uniphar PLC

23 September 2020

 

Uniphar plc Acquisition of Diligent Health Solutions

Uniphar plc today announces the acquisition of Diligent Health Solutions

Dublin, London | 23 September 2020: Uniphar plc ("Uniphar" or the "Group") today announces its acquisition of US-based, Diligent Health Solutions ("DHS"), which completed earlier this week.

DHS is a US-based healthcare communications company, providing enhanced contact centre services, focused on the delivery of medical information to patients, healthcare practitioners and payors. The acquisition is highly complementary to Uniphar's footprint and present capabilities and will enhance our mission to build connectivity between our clients and key healthcare stakeholders utilising best in class digital capabilities.

The combined business will create opportunities through the provision of communication technologies, across both the Commercial & Clinical and Product Access divisions. It enhances the Product Access value proposition immediately, adding necessary capability to deliver exclusive access programmes ("EAPs") in North America. With this acquisition, Uniphar further enhances its offering to Life Sciences clients as a single solutions provider across pre and post commercialisation.

DHS's workforce of over 80 staff include a combination of healthcare practitioners and subject matter experts. In addition to leveraging DHS existing workforce, this acquisition accelerates the Uniphar's access to a highly trained industry workforce and high-tech communications infrastructure enabling the Group to support the implementation of more, and more complex, programmes for clients requiring complete global solutions. DHS's workforce will continue to operate from its two locations in the US (Philadelphia and Virginia).

The acquisition is an important step in the Group's strategy to building a market leading position in Product Access and Commercial & Clinical in addition to a highly relevant market presence in North America, the largest pharmaceutical market in the world and home to many of Uniphar's existing and target client base.

The business is earnings accretive from completion. Total potential consideration relating to the acquisition is $27m with $10m paid upfront with the deferred element linked to EBITDA performance over four years.

Commenting on today's announcement, Ger Rabbette, CEO of Uniphar said:

" The acquisition of US-based Diligent Health Solutions, with its combination of highly trained people and enhanced contact centre technologies will further extend Uniphar's relationships with our US client base. Our organisation is excited about the role telehealth will play in adding value to our global expanded access offering and creates positive revenue synergy opportunities across both of our Commercial & Clinical and Product Access divisions."

Mary Anne Greenberg, CEO of Diligent Health Solutions said:

" Having built strong relationships with the management team over many years, Diligent Health Solutions are fully convinced of the cross-selling opportunities and cultural fit with the Uniphar Group. We would only have considered selling to an organisation who is fully committed to making further investments in our infrastructure to allow our team to maximise their true potential. The growth projection of both businesses over the last number of years has been exceptional, which we believe is down to the common focus of always doing the right thing for our employees and customer. We are very excited to be part of the journey moving forward. "

For further details contact:

Uniphar	[phone]
Brian O'Shaughnessy
Group Director of Corporate Development	[e-mail]
Davy	[phone]
(Joint Broker, Nominated Adviser and Euronext Growth Adviser)
Fergal Meegan
Barry Murphy
Tom Tynan
RBC Capital Markets (Joint Broker)	[phone]
Darrell Uden
Jonathan Hardy
Jamil Miah
Q4 PR	[phone] or
(Public Relations Adviser to Uniphar)	[phone]
Iarla Mongey

About Uniphar plc

Headquartered in Dublin, Ireland, Uniphar is an international diversified healthcare services business servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions - Commercial & Clinical, Product Access and Supply Chain & Retail. With a workforce of more than 2,300, the Group is active in Ireland, the UK, the Benelux, the Nordics and the US.

The Company's vision is to improve patient access to pharmaco-medical products and treatments by enhancing connectivity between manufacturers and healthcare stakeholders. Uniphar represents a strong combination of scale, growth and profitability.

Commercial & Clinical  

In Commercial & Clinical the Group provides sales, marketing & distribution solutions to multinational pharmaceutical and medical device manufacturers on an outsourced basis. Active in Ireland, the UK, the Benelux and the Nordics, the Group is growing with clients to provide pan-European solutions. Uniphar have built a fully integrated multi-channel solution that is supported by highly experienced, clinically trained teams to deliver exceptional outcomes for all clients.

Product Access  

In Product Access the Group is growing two distinct service offerings: 1) "On-Demand Access", which are pharmacy led solutions for sourcing and supplying unlicensed medicines to meet the needs of both retail and hospital pharmacists; and 2) "Exclusive Access", which are manufacturer led solutions for controlling the release of speciality medicines for specifically approved patient populations in agreed markets. The Group currently delivers product access solutions to more than 160 markets globally.

Supply Chain & Retail  

Uniphar is an established market leader in Ireland with c50% supply chain market share supported by a network of 300 owned, franchised and symbol group pharmacies. The business supports the diverse customer base through the provision of strong service levels coupled with innovative commercial initiatives. Supply Chain & Retail is an Irish only business for the Group, although the assets and infrastructure are utilised for the benefit of the growth divisions.

 

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