Acquisition

RNS Number : 0931G

Uniphar PLC

23 November 2020

 

Regulatory Approval of Acquisition

Uniphar's acquisition of Hickey's Pharmacy Group approved by the CCPC

Dublin, London | 23 November 2020: Uniphar plc ("Uniphar" or the "Group") today announce the approval by the Competition and Consumer Protection Commission of the acquisition of Hickey's Pharmacy Group ("Hickey's") previously disclosed on 2 September.

The acquisition is earnings accretive from completion and will be further enhanced through leveraging Uniphar's existing infrastructure and scale to unlock additional synergies. As previously guided, this is expected to result in an uplift of c.6% on Group EPS for H1 2021 rising to 9% in H2 2021, with additional synergies to be delivered in 2022.

Uniphar's experienced management will ensure integration is executed effectively to achieve the identified benefits.

Ger Rabbette, Uniphar Group Chief Executive Officer said:

"We are delighted to announce the acquisition has been approved by the CCPC within our expected timeline. Hickey's further enhances our leadership position in Supply Chain & Retail in the Irish market. The Hickeys group bring with it an excellent management team and we welcome on board all of our new colleagues from Hickeys"

 --ENDS--

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 plc 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 has strong established relationships with 7 of the top 10 pharma companies and 6 of the top 10 medical device companies. With a workforce of more than 2,300, the Group is active in Ireland, the UK, the Benelux, the Nordics and the US, delivering unlicensed and specialty medicine on a global basis.

The Group'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 its clients to provide pan-European solutions. Uniphar has 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 on a global basis.

Supply Chain & Retail

Uniphar is an established market leader in Ireland with c.50% market share in the wholesale/hospital market, supported by a network of c.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 manufacturer relationships and infrastructure are utilised for the benefit of the growth divisions, Commercial & Clinical and Product Access.

 

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