Acquisition of healthcare agency Inspired Health

RNS Number : 6008B

Uniphar PLC

04 October 2022

 

Uniphar plc today announces the acquisition of US healthcare agency Inspired Health

Dublin, London | 04 October 2022: Uniphar plc (the "Group") today announces the acquisition of Boston, MA headquartered Inspired Health ("Inspired").

Inspired is a healthcare insights and intelligence consultancy. Using innovative market research techniques, Inspired assists its life science clients to better understand physicians, patients, administrators, and payers. These insights are leveraged to assist clients optimise product innovation and commercialise their assets.

High quality research and insights are the foundation to a successful commercialisation strategy. Inspired Health will be integrated into Uniphar's Commercial & Clinical division. Inspired's market research expertise will enable Uniphar to evolve its commercialisation offering to enhance its clients' competitiveness and improve healthcare delivery.

The acquisition increases Uniphar's presence in the strategically important US market and Inspired will complement our recent US acquisitions of BESTMSLs, Diligent Health Solutions and RRD International.

The purchase price includes an upfront payment plus contingent consideration payable upon future financial performance. The founders recognise the enhanced opportunity to grow the business as part of Uniphar Group and remain fully engaged as a core part of the business going forward.

The acquisition is expected to deliver a Return on Capital Employed in line with Uniphar's target rate of 12%-15% within three years.

Commenting on today's announcement

Ger Rabbette, CEO of Uniphar said:

" The acquisition of Inspired Health adds another vital component to our high value commercialisation offering and further increases our scale in the world's largest healthcare market. Market research is the first step on the journey towards successful commercialisation and the insights gained from Inspired's innovative service offering will be leveraged across the Group. We are excited to welcome the highly innovative Inspired team to the Group."

Kieron Mathews, Senior Executive Officer of Inspired Health: 

"Inspired Health has been on an incredible journey over the last number of years and today marks a significant milestone for the team. The Uniphar Group recognise the important role insights, data and market research play across an asset's lifecycle and as such is an ideal home for Inspired Health. Uniphar have built a compelling commercial offering to date, and we look forward to adding to that through our innovative solutions." 

Andrew Wilson, Senior Executive Officer of Inspired Health: 

"Joining the Uniphar Group will enable the Inspired team to continue to deliver for our existing and growing client base while benefiting from additional opportunities as part of a larger organisation with an enhanced service offering." 

For further details contact:

Uniphar [phone] Seamus Egan Head of Corporate Development and IR [e-mail] Davy (Joint Corporate Broker, Nominated Adviser and Euronext Growth Listing Sponsor) [phone] Barry Murphy Niall Gilchrist Lauren O'Sullivan RBC Capital Markets (Joint Corporate Broker) [phone] Jonathan Hardy Jamil Miah Stifel Nicolaus Europe Limited (Joint Corporate Broker [phone] Matt Blawat Ben Maddison Francis North Q4 PR [phone] or (Public Relations Adviser to Uniphar) [phone] Iarla Mongey

About Uniphar plc 

Headquartered in Dublin, Ireland, the Uniphar Group 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. The Group is active in Ireland, the UK, Europe, the US and Australia.

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 outsourced sales, marketing & distribution solutions to multinational pharmaceutical and medical device manufacturers. Active in Ireland, the UK, Benelux, the Nordics, Germany and the US, the Group is growing with its clients to provide pan-European solutions, with a targeted service offering in the US. Uniphar has built fully integrated digitally enabled customer centric solutions that are supported by our highly experienced and clinically trained teams, leveraging our digital technology and insights which allows us to deliver consistently exceptional outcomes for our clients.

Product Access

In Product Access, the Group is growing two distinct service offerings: 1) "On Demand", 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 on a global basis.

Supply Chain & Retail

Uniphar is an established market leader in Ireland with c. 53% market share in the wholesale/hospital market, supported by a network of 381 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 manufacturer relationships and infrastructure are also utilised for the benefit of the Commercial & Clinical and Product Access divisions

 

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