TIDMDCC
RNS Number : 1842S
DCC PLC
15 March 2021
15 March 2021
DCC Healthcare acquires leading primary care supplier in Germany
and Switzerland
DCC plc, the leading international sales, marketing, and support
services group, announces that DCC Healthcare has agreed to acquire
Wörner Medizinprodukte Holding GmbH ("Wörner"), a leading supplier
of medical and laboratory products to the primary care sector in
Germany and Switzerland.
Wörner was established in 1991 and has grown organically and
through bolt-on acquisitions to become one of the leading primary
care suppliers in the fragmented German market, providing
nationwide sales and distribution coverage; it also has a strong
presence in the Swiss market. Wörner sells a broad product range to
approximately 20,000 customers annually, including general
practitioners, primary care centres, specialist medical centres and
laboratories. The business recorded revenue of approximately EUR70
million in 2020 and employs 158 people. Wörner will continue to be
led by its existing, experienced, management team from its
headquarters in Reutlingen, Germany.
Wörner will join the DCC Vital group, a leader in the sales,
marketing and distribution of medical products to the hospital,
community and primary care sectors in Britain and Ireland. There
are strong similarities between DCC Vital's primary care activities
and Wörner, particularly in terms of customer focus, product
offering and digital sales approach, providing value creation
opportunities in areas such as procurement, marketing and the use
of technology. Wörner has an active bolt-on acquisition target
list. DCC, with its expertise in acquisitive growth, will,
following completion of the transaction, work with the Wörner team
to accelerate the execution of these opportunities. The acquisition
of Wörner will also provide a platform for the expansion of DCC
Vital's broader activities into Continental Europe, particularly in
Germany, which is a large, well-funded and growing healthcare
market.
DCC is acquiring Wörner based on an initial enterprise value of
approximately EUR80 million. The acquisition is subject to
competition authority approval in Germany and Austria and is
expected to complete in April 2021.
Donal Murphy, Chief Executive of DCC plc, said today:
"The acquisition of Wörner represents a significant scale-up of
our primary care business and extends DCC Vital's sales and
marketing activities into Continental Europe for the first time.
DCC Vital is a key growth platform for DCC and has delivered strong
organic growth in recent years in the sales and marketing of
medical products across the primary care, community, and hospital
sectors. DCC Vital will continue to build its business across
Europe in the coming years and Wörner will provide an excellent
platform for further acquisition activity, both in Germany,
Europe's largest healthcare market, and across the DACH
region."
For reference:
Donal Murphy, Chief Executive
Conor Costigan, Managing Director, DCC Healthcare
Rossa White, Head of Group Investor Relations
Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
Powerscourt (Media)
Lisa Kavanagh / Eavan Gannon
Telephone: +44 20 7250 1446
Email: DCC@powerscourt-group.com
About DCC plc
DCC is a leading international sales, marketing and support
services group with a clear focus on performance and growth. It
operates through four divisions: LPG, Retail & Oil, Technology
and Healthcare.
DCC is an ambitious and entrepreneurial business operating in 20
countries, supplying products and services used by millions of
people every day. Building strong routes to market, driving for
results, focusing on cash conversion and generating superior
sustainable returns on capital employed enable the Group to
reinvest in its business, creating value for its stakeholders.
Headquartered in Dublin, employing approximately 13,500 people,
DCC's four divisions are:
-- DCC LPG - a leading LPG sales and marketing business with
operations in Europe, the US and Asia and a developing business in
the retailing of natural gas and power;
-- DCC Retail & Oil - a leader in the sales, marketing and
retailing of transport fuels, commercial fuels, heating oils and
related products and services in Europe;
-- DCC Technology - a leading route-to-market and supply chain
partner for global technology brands and customers; and
-- DCC Healthcare - a leading healthcare business, providing
products and services to healthcare providers and health and beauty
brand owners.
DCC plc is listed on the London Stock Exchange and is a
constituent of the FTSE 100. In its financial year ended 31 March
2020, DCC generated revenue of GBP14.8 billion and operating profit
of GBP494.3 million.
DCC has an excellent record, delivering compound annual growth
of 14.5% in operating profit and generating an average return on
capital employed of approximately 19% over 26 years as a public
company.
About DCC Healthcare
DCC Healthcare is a leading healthcare business providing
products and services to health & beauty brand owners and
healthcare providers. DCC Healthcare has revenues of over GBP600
million and circa 2,700 employees across its operations in Britain,
Ireland and the US. DCC Healthcare has two activities:
-- DCC Health & Beauty Solutions: provision of outsourced
services to international Health & Beauty brand owners
principally in the Nutrition and Beauty sectors.
-- DCC Vital: sales, marketing and distribution of medical
products to healthcare providers across all sectors of the
healthcare market in the UK and Ireland from hospitals through to
community care and primary care.
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