UDG Healthcare announces the acquisition of US-based healthcare
UDG Healthcare plc, a leading international healthcare services provider, is pleased to announce the acquisition of Vynamic LLC, a US-based healthcare industry management consulting firm, for a total consideration of up to $32m.
Vynamic is headquartered in Philadelphia and its primary service offerings include: brand strategy, planning and launch, advanced commercial operations capabilities, strategic transformation and integration, product design and implementation, change leadership and business intelligence and analytics.
The acquisition of Vynamic is in line with Ashfield's strategy to expand its advisory services to the healthcare industry and follows the acquisition of STEM in October 2016. It is the Group's first management consultancy acquisition and offers services which are highly complementary to the existing range of services provided by Ashfield.
Vynamic is being acquired for an initial consideration of $22 million, with an additional consideration of up to $10 million payable over the next three years, based on the achievement of agreed profit targets. The business has been acquired for an upfront multiple of c. 7x EBIT.
Commenting on the announcement, Brendan McAtamney, CEO of UDG Healthcare plc, said: "We are delighted to announce the acquisition of Vynamic, which expands our advisory offering and adds an additional capability offering for our global healthcare clients. Vynamic is an excellent fit for UDG Healthcare, both strategically and culturally, and demonstrates our strategic commitment to developing our market leading positions through geographic and services expansion."
Vynamic Founder and CEO, Dan Calista said: "Joining UDG Healthcare creates tremendous value for our clients and the people of Vynamic. We will have additional capabilities to service clients around the world, while creating new career opportunities for our people in a company culture that aligns with Vynamic's values."
Further to the announcement on 23 May, UDG Healthcare can confirm it has also received competition approval for the acquisition of Sellxpert GmbH, a German contract sales outsourcing business for a total potential consideration of up to $14.4 million.
About UDG Healthcare plc:
UDG Healthcare plc (LON: UDG) is a leading international partner of choice delivering commercial, clinical, communications and packaging services to the healthcare industry, employing over 8,000 people with operations in 23 countries and delivering services in over 50 countries.
UDG Healthcare plc operates across three divisions: Ashfield, Sharp and Aquilant.
Ashfield is a global leader in commercialisation services for the pharmaceutical and healthcare industry, operating across two broad areas of activity: commercial & clinical services, and communications services. It focuses on supporting healthcare professionals and patients at all stages of the product life cycle. The division provides field and contact centre sales teams, healthcare communications, patient support, audit, advisory, medical information and event management services to over 300 healthcare companies.
Sharp is a global leader in contract commercial packaging and clinical trial packaging services for the pharmaceutical and biotechnology industries, operating from state of the art facilities across the US and Europe. Sharp is also a world leader in 'Track and Trace' serialisation services, which will require all prescription drugs to have a unique serial code for authentication and traceability.
Aquilant is a leading provider of outsourced sales, marketing, distribution and engineering services to the medical and scientific sectors in the UK, Ireland and the Netherlands.
The company is listed on the London Stock Exchange and is a constituent of the FTSE 250.
For more information, please go to: www.udghealthcare.com
Vynamic is a US healthcare industry management consulting firm headquartered in Philadelphia. Spanning all sectors of the interwoven healthcare industry, Vynamic's primary service offerings include: brand strategy, planning and launch, advanced commercial operations capabilities, strategic transformation & integration, product design & implementation, change leadership and business intelligence & analytics. The business was founded in 2002 and has shown impressive growth to become a team of 100 employees.
For more information, please go to: https://vynamic.com