Acquisition of McCauley Pharmacy Group

RNS Number : 8402Z

Uniphar PLC

19 September 2022

 

Uniphar plc today announces the acquisition of McCauley Pharmacy Group

Dublin, London | 19 September 2022: Uniphar plc (the "Group" or "Uniphar") today announces the acquisition of Dublin headquartered McCauley Pharmacy Group ("McCauley").

The acquisition of McCauley adds 37 retail pharmacies to the Group complementing Uniphar's growing footprint of symbol group members.

McCauley is widely recognised as a leading provider of pharmacy and retail services in Ireland and a market leader in the delivery of health, wellbeing, and beauty products. McCauley's expertise in this sector, combined with its customer-focused digital platforms will further support Uniphar's consumer business, which continues to demonstrate strong growth.

The Supply Chain & Retail division continued to outperform its medium-term guidance during H1'22 and continuing to evolve our market leading service offering across this vital service sector remains a priority for the Group.

The acquisition of McCauley, which is subject to approval by the Irish Competition and Consumer Protection Commission, will be earnings accretive from completion. Earnings will be enhanced further through leveraging the Group's scale and infrastructure and 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 McCauley further improves our leading position in the Irish retail pharmacy market. McCauley is widely recognised as a leading brand across health, wellbeing, and beauty. Their expertise and advanced digital offering will complement our fast-growing consumer business in the Supply Chain & Retail division. The acquisition will be earnings accretive from completion, with further efficiencies to be delivered in the medium term and will deliver a Return on Capital Employed of 12-15% within three years."

Tony McEntee, CEO of McCauley Pharmacy Group said: 

"With Uniphar's strong track record in this  sector, the future of the McCauley business is in very safe hands. We extend our thanks to all McCauley staff who have played such a critical role in the transformation of the business over the past number of years and, in particular, for their hard work and tireless commitment throughout the Covid-19 pandemic." 

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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