11 Aug 2010 | 06:00 am | 3 min. read
International law firm Pinsent Masons has advised United Drug plc, a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, on its acquisition of InforMed Direct Limited for a consideration of £11.4 million in cash on completion with an additional amount of up to £5.9 million payable based on agreed profit targets over the next 3 years.
InforMed Direct Limited is based in Macclesfield, and has offices in the US, employing a total of 80 people. The Company provides healthcare communications services to a range of global pharmaceutical and biotechnology companies. The acquisition enhances United Drug's marketing services capability in the UK and US and broadens the range of services provided by its Contract Sales & Marketing Services division.
Liam Logue, Corporate Development Director at United Drug, commented: "The Pinsent Masons team has worked very well as part of our M&A team and delivered a seamless service giving practical and technical quality legal advice".
Helen Ridge, Corporate Partner at Pinsent Masons, commented: "We are delighted to have worked with United Drug, a new client for us, on our first acquisition with them; we hope it will be the first of many!"
The Pinsent Masons team was led by corporate partners Helen Ridge and Chris Moss, supported by Eleanor Tinnelly, Chrissy Barton, Catriona White, Jon Robinson and Simon Horsfield.
Ciaran Stone of DLA acted for the majority of the sellers whilst George Maynard of Millbank Edge acted for certain minority shareholders. Richard Pulford of DC Advisory also advised InforMed.
Unni Henry
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Pinsent Masons
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Pinsent Masons is an established, full service law firm with truly international reach, a reputation for delivering both world class service quality and excellent value, providing a full range of corporate, financial and commercial legal services to major UK and international corporations, institutions and public bodies. The firm has well over 1,000 corporate partners and other lawyers worldwide.
About United Drug plc
United Drug is a leading international provider of services to healthcare manufacturers and pharmaceutical retailers, with operations in the UK, Ireland, Holland, Belgium and the USA. The Company has a long-term track record of delivering double-digit profit, earnings and dividend growth. Over the last 20 years pre-tax profits have grown at a compound annual rate of 21%.
The Company operates across three divisions, Healthcare Supply Chain, Packaging & Speciality Services, and Contract Sales & Marketing Services.
United Drug is the largest pharmaceutical wholesaler in the island of Ireland.
It is the market leader in contract distribution outsourcing (pre-wholesaling) in Ireland and has achieved the No. 1 position in the UK through its joint venture business UniDrug Distribution (UDG). Through its Medical & Scientific business, United Drug provides sales & marketing and technical service solutions, including contract distribution services to Medical & Scientific equipment & consumable manufacturers, with a market leading position in Ireland and an emerging presence in the UK.
The Company provides distribution related services in the areas of pharmaceutical contract packaging and speciality distribution in the UK, Holland and Belgium.
United Drug is also a leading provider of contract sales outsourcing and related marketing services to pharmaceutical manufacturers in the UK and Ireland and also provides these services in the US market.
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Multinational law firm Pinsent Masons has hired Gillian Harrington to join the firm’s Aberdeen office as employment partner from 6 May.
Multinational law firm Pinsent Masons has hired corporate partner, Rachel Soundy, to join the firm’s Birmingham office.
Multinational law firm, Pinsent Masons LLP, has advised IGCF VI Euro, L.P. a sub-fund of Balbec Capital LP, a global alternative investment manager headquartered in the United States on its first European public securitisation in relation to the issuance of notes totalling EUR 392 million backed by a portfolio of reperforming Spanish mortgage loans, arranged by Goldman Sachs.
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