Dublin-based Uniphar acquires Dutch pharma group for €75m

21 Nov 2022

Image: © Ivan Traimak/Stock.adobe.com

Uniphar’s CEO said the acquisition of BModesto Group will strengthen its product access offering ‘in Europe and beyond’.

Irish healthcare group Uniphar has acquired a Dutch pharmaceutical services business in a €75m deal.

The purchase of BModesto Group includes an upfront payment of €51m, plus a deferred consideration payment of up to €24m subject to performance-based targets. Uniphar expects to generate a return on capital employed of between 12pc and 15pc within three years.

BModesto was founded in 2014 and aims to improve the availability, accessibility and affordability of global healthcare resources. It offers a range of services including the distribution of medicines, clinical trial services and medical device distribution.

The business operates across Europe and generated €7.7m in earnings last year before interest, taxes and depreciation.

Under the acquisition, BModesto Group will become part of Uniphar’s product access division.

Uniphar CEO Ger Rabbette said this will strengthening its product access offering “in Europe and beyond”, which will allow the company to make “a positive difference in the lives of more patients”.

“The company’s strategic location, sophisticated sourcing, regulatory capabilities and broad access to key end markets strengthens our evolving global service offering,” Rabbette added.

Uniphar works with medtech and pharma manufacturing companies in the US and Europe, providing supply chain and retail services as well as product access and commercial and clinical services.

The Dublin-based company has been on an acquisition spree in recent years. In 2020, it confirmed its purchase of US-based pharma consulting company RRD International.

In 2021, it snapped up pharma marketing agency E4H, pharma distributor Devonshire Healthcare Services and Irish-headquartered pharma services group Navi.

Last month, Uniphar announced the acquisition of US healthcare agency Inspired Health. This followed an announcement in September that the company will acquire the McCauley Pharmacy Group, which will add 37 retail pharmacies to the Uniphar network, subject to competition approval.

Uniphar, which has a workforce of more than 3,000, will see 180 people join its ranks following the acquisition of the BModesto Group.

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Leigh Mc Gowran is a journalist with Silicon Republic