UDG Healthcare acquires market leading Healthcare Communications provider
UDG Healthcare plc, a leading international provider of healthcare services, announces that it has agreed to acquire the healthcare communications business of KnowledgePoint360. The deal, agreed at a total cash consideration of $144 million [€105 million], is expected to complete by the end of March 2014.
- Establishes UDG Healthcare as a market leader in the global healthcare communications market.
- Complements UDG Healthcare's existing global healthcare communications offering, which it provides through its Ashfield Division in the UK and the US.
- Enables further expansion in the US and Europe and provides a solid platform for future expansion elsewhere.
- The acquisition will be financed from existing cash facilities.
- Transaction includes the healthcare communications business of KnowledgePoint360, headquartered in Macclesfield in the UK and in Lyndhurst, New Jersey in the US. It employs over 600 staff across 10 global locations.
- It is estimated that the value of the gross assets being acquired will be $64 million (€47 million) at completion. These assets generate annual revenues of $106 million (€77 million), EBITDA of $20 million (€15 million) and EBIT of $16 million (€12 million).
- Acquisition expected to be immediately earnings enhancing.
"KnowledgePoint360 is a strong and well-established business, with an excellent management team and highly qualified work force that has a style and values similar to our own. Our Ashfield business has had great success with previous acquisitions in the healthcare communications market, including InforMed and Watermeadow. Expansion in healthcare communications and related business areas is a key part of our global growth strategy."