The deal establishes UDG Healthcare in the global healthcare communications market; complements UDG Healthcare’s existing global healthcare communications offering, which it provides through its Ashfield Division in the U.K. and the U.S.; and enables further expansion in the U.S. and Europe while also providing a solid platform for future expansion elsewhere.
The acquisition will be financed from existing cash facilities and includes the healthcare communications business of KnowledgePoint360, headquartered in Macclesfield in the U.K. and in Lyndhurst, N.J. It employs over 600 staff across 10 global locations. It is estimated that the value of the gross assets being acquired will be $64 million at completion. These assets generate annual revenues of $106 million.
Liam FitzGerald, chief executive of UDG Healthcare, said, “Our Ashfield business has had great success with previous acquisitions in the healthcare communications market, including InforMed and Watermeadow. Expansion in healthcare communications and related business areas is a key part of our global growth strategy.”
The deal is expected to close by the end of March.