United Drug plc(UDG.L), a provider of healthcare services, Friday said it reached an agreement to acquire Medical Communications Group Inc.'s healthcare multi-channel marketing, call center and sample management businesses for a total of 15.5 million Canadian dollars, or about 11.2 million euros. The deal will be financed from United Drug's internal resources and existing debt facilities and is expected to close in the next six weeks.
Through this deal, United Drug is expected to build its commercial proposition in Canada, after the Pharmexx Canada acquisition. The acquired business will become a part of the sales, marketing and medical division (Ashfield division) of United Drug, and the existing management will remain with the business after the acquisition. The deal is expected to be earnings accretive in year one.
"MCG has established a reputation over many years as a highly innovative provider of promotional services and the MCG expertise in multi-channel marketing complements the field based capabilities of Pharmexx. With our combined resources and expertise we look forward to building a market leading service offering in Canada," Liam FitzGerald, Chief Executive of United Drug said.
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