UDG Healthcare plc, a leading international provider of healthcare services, has agreed to acquire the healthcare communications business of KnowledgePoint360.
UDG Healthcare plc, a leading international provider of healthcare services, 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.
The 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 ten 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).
Commenting on the announcement, Liam FitzGerald, chief executive of UDG Healthcare plc said: "We are delighted to make this announcement. KnowledgePoint360 is a significant strategic and complementary acquisition for UDG Healthcare, giving us a market leading position in the global healthcare communications sector and significantly enhancing the Ashfield offering to our clients."
"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."