Dublin listed health services provider United Drug has announced the purchase of healthcare communications and consultancy company InforMed Group for an initial fee of £11.4 million (€13.8 million).
United Drug said the acquisition of the Macclesfield based firm, which employs 80 people, would enhance its marketing services capabilities in the US and UK and broaden the range of services it has to offer.
InforMed Group provides services such as medical writing and publication planning, market research and business analysis and marketing and sales training and consultancy.
United Drug's chief executive Liam FitzGerald said the purchase would significantly add to its overall offering.
The £11.4 million fee will be paid on completion of the deal and may rise by a further £5.9 million (€7.1 million). The deal will be financed from United Drug's internal resources and existing debt facilities.
Shares in United Drug were trading at €2.38, down half a per cent, at 3.15pm.
United Drug reported pre-tax profits of €31.5 million for the six months to the end of March 2010, a five per cent increase on the €30 million recorded a year earlier. Group revenue for the six-month period under review were flat at €853 million.
