Irish healthcare and drug distribution group Uniphar has announced two acquisitions, buying international medtech service provider EPS Group and Irish medtech group M3 Medical for a combined total of €40 million.
The money will be paid over four years, with the deferred consideration linked to earnings performance over the period.
The acquisitions are expected to deliver revenue of an estimated €22 million for the year ended December 31st, 2019.
EPS Group includes EPS Vascular and EP Endovascular, both registered in Sweden, and EPS Vascular registered in Finland, delivering services across Sweden, Denmark, Norway, Finland, Iceland and the Baltics, marking Uniphar's first move into this region.
M3 Medical supplies its services exclusively to the Irish market.
Both deals offer sales, marketing and distribution services to medical device manufacturers in the therapeutic areas of interventional cardiology and vascular medicine.
"These acquisitions are a key strategic step in Uniphar's plan to offer its pharmaco-medical clients a pan-European service by adding new countries and new agencies to our roster," said Uniphar chief executive Ger Rabbette.
"With this development we add to our already considerable expertise in the area of interventional technologies in key therapeutic areas, and Uniphar advances its ambition to become a leading independent distributor of medical devices throughout Europe. "
Mr Rabbette said Uniphar expected to invest in the platforms in the short term.
These acquisitions are part of Uniphar’s pan-European growth strategy for its commercial and clinical division, which is focused on acquiring local expertise and broadening its capacity to provide sales, marketing and distribution services for medical device manufacturers.
“It gives us the opportunity to develop our existing relationships and to extend these across new geographies through Uniphar’s growing European offering,” said Killian O’Dowd, managing director of M3 Medical. “Uniphar’s scale, digital solutions, regulatory expertise and impressive ambition in Europe will be a great platform for M3 Medical to grow and flourish in the years to come.”