E4H, Navi and Devonshire targeted in latest acquisition drive

Pharmaceutical services group Uniphar has announced three acquisitions in the UK and Ireland as the company continues to pursue its strategic objectives.

Brand commercialisation and pharmaceutical marketing agency E4H, and pharmaceutical distributor Devonshire Healthcare Services, both based in the UK, join Irish-headquartered pharmacy services group Navi as part of the expanding Uniphar group.

A total investment figure for the three purchases was not disclosed, but Uniphar said each acquisition includes an upfront payment plus further consideration payable upon achievement of certain financial hurdles.

The deals are expected to deliver a return on capital employed to the group in line with Uniphar’s target rate of 12-15 per cent within three years.

Combined revenue of the three acquisitions is €39 million, with Uniphar’s headcount rising 110 as a result of the deals.

“We are delighted to announce three acquisitions today, one across each of Uniphar’s divisions, which accelerates our strategic objectives and demonstrates our continued focus on identifying and executing compelling M&A opportunities that meet or exceed our strict returns criteria,” said chief executive Ger Rabbette.

Planning for the integration of the companies is under way.

Cultural match

E4H, which will be integrated into the group’s commercial and clinical pharma division, offers digital and communications solutions to the pharmaceutical industry, including brand and strategy commercialisation, digital development, omnichannel delivery, engagement and data analysis.

Chief executive of E4H, Karl Hamer, said Uniphar was a great cultural match. “Our service offering is a unique fit for the group, and we are looking forward to delivering a stronger value proposition and service through our combined offering to our clients with the ultimate benefit to patients,” he said.

Devonshire will expand Uniphar’s global access into key hospitals in the Middle East and North Africa (MENA) region, benefiting its on-demand and exclusive access businesses.

The company provides access to unlicensed and difficult-to-source medicines across the region to healthcare authorities, hospitals, overseas ministries of health and military agencies, and will be integrated into the product access division.

Irish-headquartered Navi provides leading digital platforms and consistent supply of quality pharmaceutical products to its Irish and MENA partners. The acquisition is expected to to boost Uniphar’s offering to its independent community pharmacy customer base. The acquisition, which must be approved by competition authorities, is expected to close in the second quarter of 2022.

“Navi and Uniphar have been partners for many years and share a common goal – to provide best-in-class services to community pharmacy, driven by innovative digital solutions,” said John Carroll, Navi chief executive .

By Ciara O'Brien for www.irishtimes.com