United Drug, Ireland’s largest pharmaceutical wholesaler, has acquired the entire issued share capital of Watermeadow Medical and Watermeadow Medical Consulting.
Watermeadow is a healthcare communications and consultancy agency with offices in Oxford, Manchester and New York, which provides medical writing and preparation of promotional and educations material, typically for product pre-prelaunch.
United Drug, which operates across healthcare supply chain, sales, marketing and packaging, will pay a consideration of up to £13m, with £6m in cash on completion and up to £7m payable based on achievement of agreed profit targets over the next 2 years.
“We are delighted to announce the acquisition of Watermeadow,” said Liam FitzGerald, chief executive, United Drug.
“The acquisition will allow us to continue to grow our medical communications business as we seek to broaden the range of services we provide to our international pharmaceutical manufacturer customers. Watermeadow has an excellent reputation in the market and I am delighted to welcome them to the Group”.
Through the acquisition, Watermeadow will join a stable of medical communications agencies, including: iMed, QXV, Infusion and Insight, which operate under the InforMed Group umbrella. The agency will continue to trade under its own name and retain the same management team.
“I’m delighted that Watermeadow will be joining the United Drug group,” said Watermeadow managing director, Paul Hilditch.
“Together with our new colleagues in the InforMed group, we are a major player in the medical communications arena, while as an independent unit within the group, we will continue to foster the can-do culture and commitment to quality that have always characterised Watermeadow.”