Diversified distribution group DCC has acquired speciality drugs distributor TechnoPharm Ltd.
DCC is paying €8.3 million for 75 per cent of TechnoPharm with options in place to acquire the remaining 25 per cent.
TechnoPharm, a Dublin-based company founded in 1992 by managing director Mr Andrew O'Connell, is expected to generate operating profits of about €2 million in its current financial year to September 30th, 2002.
It will be an operating subsidiary of Fannin Healthcare, the market leader in the distribution of hospital, medical and laboratory supplies in Ireland.