Clinigen Group plc Completes £225 million Acquisition of Idis and £135 million Vendor Placing
Clinigen Group plc ("Clinigen", the "Company" or the "Group", AIM: CLIN), the specialty global pharmaceutical company, has agreed to acquire Idis Group Holdings Limited ("Idis"), creating the market leader in the ethical unlicensed supply of medicines ("the Acquisition"). Idis is being acquired for an enterprise value of £225.0 million.
Peter George, Chief Executive Officer of Clinigen, said:
"This acquisition satisfies a number of our key strategic goals - achieving the market leader position in the $5+ billion unlicensed medicine supply sector and strengthening our leading position in the $2 billion clinical trial supply market.
"The acquisition will also accelerate our growth and gives us a much better balanced portfolio of businesses, whilst extending our unique business model.
"The enlarged entity creates an incredibly exciting business with tremendous opportunities for growth. I am confident that, together with Idis, we have the right people to define and shape the unlicensed medicine supply market - an increasingly important health care sector for patients with unmet needs."