TIDMUPR
RNS Number : 1587H
Uniphar PLC
02 August 2021
Uniphar plc acquisition of BESTMSLs Group
Uniphar plc today announces the acquisition of BESTMSLs
Group
Dublin, London | 02 August 2021: Uniphar plc ("Uniphar" or the
"Group") today announces the acquisition of BESTMSLs Group ("the
Company") comprising of BESTMSLs, The Doctors Channel &
MDea.
BESTMSLs Group is a New York-headquartered company that provides
outsourced Medical Affairs services including the provision of
contract Medical Science Liaison ("MSL") teams, MSL recruiting,
training, education and a range of innovative digital solutions for
its pharma partners. BESTMSLs Group also operates The Doctors
Channel , a digital platform which delivers expert medical
information condensed into short streaming videos.
The Company's founders have > 30 years of experience in
outsourced medical affairs and their vision is to lead the industry
and provide cutting-edge, creative medical education programs and
MSL teams that engage, educate, and enhance patient care. The
Company leverages a suite of digital platforms and tools to deliver
innovative solutions for their partners. Medical Affairs is a
fast-growing market due to the increasing complexity, specialty,
and cost of emerging pharmaceutical products.
The role MSLs play is becoming increasingly important across
both late stage clinical trials through to commercialisation. The
acquisition increases Uniphar's presence in the strategically
important US market & BESTMSLs Group will work alongside, and
benefit from, our recent US acquisitions of Diligent Health
Solutions and RRD International.
The purchase price includes an upfront payment plus contingent
consideration payable upon achievement of EBITDA based performance
targets. BESTMSLs Group operate with a core team of 13 colleagues
plus an average of c. 35+ contract MSLs at any one time. The whole
team, including founder David Best, MD MBA, and Managing Director
Michael Banks, MD, recognise the enhanced opportunity to grow the
business as part of Uniphar Group and remain fully engaged as a
core part of the business going forward. The acquisition is
forecast to deliver a Return on Capital Employed to the Group in
line with Uniphar's target rate of 12%-15% within three years.
Commenting on today's announcement
Ger Rabbette, CEO of Uniphar said:
"BESTMSLs is a strong strategic fit for Uniphar given 1) the
increasingly important role MSLs play across both late stage
clinical trials through to commercialisation and 2) increasing our
presence in the strategically important US market. This acquisition
will benefit from the good work Diligent Health Solutions and RRD
International are doing. Our growing US based team are excited
about the value they can deliver together."
David Best, MD MBA, Co-Founder and Managing Director of BESTMSLs
Group said:
"BESTMSLs Group coming under the broader Uniphar umbrella
enables us to continue to deliver for our existing partners while
also exploring new cutting-edge opportunities through close
collaboration with great service providers such as Diligent Health
Solutions. As we like to say, 'Stay on the edge, more happens
there.'"
Michael Banks, MD, Co-Founder and Managing Director of BESTMSLs
Group said:
"This is an exciting milestone for BESTMSLs Group, we are
enthused by Uniphar's shared passion to invest in innovative
digital solutions to drive better outcomes for our pharma partners,
and most importantly improve the lives of patients. What has always
driven us is the saying, 'If you only give the client what they
already want, someone else will give them what they never dreamed
possible.'
For further details contact:
Uniphar +353 (0) 1 428 7777
Brian O'Shaughnessy
------------------------------
Group Director of Corporate Development investor.relations@Uniphar.ie
------------------------------
Davy +353 (0) 1 679 6363
------------------------------
(Joint Broker, Nominated Adviser and Euronext
Growth Adviser)
------------------------------
Barry Murphy
------------------------------
Niall Gilchrist
Lauren O'Sullivan
------------------------------
RBC Capital Markets (Joint Broker) +44 (0) 20 7653 4000
------------------------------
Jonathan Hardy
------------------------------
Jamil Miah
Priyal Soni
------------------------------
Stifel Nicolaus Europe Limited (Joint Broker) +44 (0) 20 7710 7600
------------------------------
Matt Blawat
------------------------------
Ben Maddison
------------------------------
Francis North
------------------------------
Q4 PR +353 (0) 1 475 1444 or
------------------------------
(Public Relations Adviser to Uniphar) +353 87 235 6461
------------------------------
Iarla Mongey
------------------------------
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About Uniphar plc
Headquartered in Dublin, Ireland, Uniphar is an international
diversified healthcare services business servicing the requirements
of more than 200 multinational pharmaceutical and medical
technology manufacturers across three divisions - Commercial &
Clinical, Product Access and Supply Chain & Retail. With a
workforce of more than 3,200, the Group is active in Ireland, the
UK, the Benelux, the Nordics, Germany and the US.
The Company's vision is to improve patient access to
pharmaco-medical products and treatments by enhancing connectivity
between manufacturers and healthcare stakeholders. Uniphar
represents a strong combination of scale, growth and
profitability.
Commercial & Clinical
In Commercial & Clinical the Group provides sales, marketing
& distribution solutions to multinational pharmaceutical and
medical device manufacturers on an outsourced basis. Active in
Ireland, the UK, Benelux, the Nordics, Germany and the US, the
Group is growing with its clients to provide pan-European
solutions. Uniphar has built a fully integrated multi-channel
solution that is supported by our highly experienced and clinically
trained teams leveraging our digital technology and insights which
allows us to deliver consistently exceptional outcomes for our
clients.
Product Access
In Product Access the Group is growing two distinct service
offerings: 1) "On Demand Access", which are pharmacy led solutions
for sourcing and supplying unlicensed medicines to meet the needs
of both retail and hospital pharmacists; and 2) "Exclusive Access",
which are manufacturer led solutions for controlling the release of
speciality medicines for specifically approved patient populations
in agreed markets. The Group currently delivers product access
solutions on a global basis.
Supply Chain & Retail
Uniphar is an established market leader in Ireland with over a
50% market share in the wholesale/hospital market, supported by a
network of c.360 owned, franchised and symbol group pharmacies. The
business supports the diverse customer base through the provision
of strong service levels coupled with innovative commercial
initiatives. Supply Chain & Retail is an Irish only business
for the Group, although the manufacturer relationships and
infrastructure are utilised for the benefit of the growth
divisions, Commercial & Clinical and Product Access.
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