TIDMUDG
RNS Number : 6799Q
UDG Healthcare Public Limited Co.
14 September 2017
UDG Healthcare announces the acquisition of US-based healthcare
communications agency for up to $75.8m
14 September 2017: UDG Healthcare plc ("the Group"), a leading
international healthcare services provider, is pleased to announce
the acquisition of MicroMass Communications ("MicroMass"), a
US-based healthcare communications agency specialising in
behavioural change, for a total consideration of up to $75.8m.
MicroMass designs solutions across all therapeutic areas that
improve patient and health outcomes by changing patient and
provider behaviour. These solutions are created bespoke to the
needs of each of MicroMass' pharmaceutical clients. As the role of
patients in healthcare decision making expands, coupled with the
ongoing shift to digital channels, demand from pharmaceutical
companies for behavioural change and direct patient engagement
capabilities is increasing.
MicroMass generates the majority of its revenue from patient
engagement and support programmes, with the remainder coming from
HCP (healthcare professional) focused work. MicroMass' behavioural
change and patient support and adherence services, are highly
complementary to the existing services provided by both the
Ashfield Communications and Commercial & Clinical
businesses.
MicroMass is being acquired for an initial consideration of
$63.8 million, with an additional consideration of up to $12
million payable over the next three years, based on the achievement
of agreed profit targets. MicroMass employs more than 100 people at
its headquarters in Cary, North Carolina. The existing management
team, who have been with the business for more than 10 years, will
remain with the business post acquisition.
Commenting on the announcement, Brendan McAtamney, CEO of UDG
Healthcare plc, said: "I am delighted to welcome MicroMass into the
UDG Group. They have developed a highly-differentiated suite of
patient and HCP solutions, with a strong reputation and a
significant presence within the highly-fragmented healthcare
communications market. MicroMass provides the Group with the
ability to strengthen Ashfield's presence and capabilities in the
US market, whilst also providing us with a platform to expand into
the high growth areas of behavioural change and direct patient
engagement.
"UDG has now committed more than $275 million to acquisitions
this financial year, in line with our strategy of expanding into
higher growth, higher margin areas, through acquisitions that add
further capabilities for our global pharmaceutical client base and
are a strong strategic and cultural fit to our existing
businesses."
MicroMass President, Alyson Connor said: "We are excited to be
joining the team at UDG Healthcare. Being part of a global business
creates new opportunities for continued growth and new
collaborations within UDG, which will enable us to develop more
comprehensive solutions for our clients. UDG aligns very well with
our culture, mission and values and will provide new opportunities
for our employees."
Conference call:
UDG Healthcare will host a conference call for investors and
analysts at 8.30am BST today, 14 September 2017 to discuss this
acquisition. The dial-in details are as follows:
Standard international access: + 44 (0) 20 3003 2666
UK Toll Free: 0808 109 0700
Ireland: + 353 (0) 1 436 0959
Password: UDG Healthcare
A playback facility will be available for seven days on + 44 (0)
20 8196 1998. The access code for the replay will be 3470925#.
Contact
UDG Healthcare
Alan Ralph Keith Byrne
CFO Head of IR, Strategy & Corporate
Tel: +353-1-468-9000 Communications
Tel: + 353-1-468-9000
Powerscourt
Lisa Kavanagh / Jack Hickey
Tel: +44-207-250-1446
Email: udghealthcare@powerscourt-group.com
About UDG Healthcare plc:
UDG Healthcare plc (LON: UDG) is a leading international partner
of choice delivering commercial, clinical, communications and
packaging services to the healthcare industry, employing over 8,000
people with operations in 23 countries and delivering services in
over 50 countries.
UDG Healthcare plc operates across three divisions: Ashfield,
Sharp and Aquilant.
Ashfield is a global leader in commercialisation services for
the pharmaceutical and healthcare industry, operating across two
broad areas of activity: commercial & clinical services, and
communications services. It focuses on supporting healthcare
professionals and patients at all stages of the product life cycle.
The division provides field and contact centre sales teams,
healthcare communications, patient support, audit, advisory,
medical information and event management services to over 300
healthcare companies.
Sharp is a global leader in contract commercial packaging and
clinical trial packaging services for the pharmaceutical and
biotechnology industries, operating from state of the art
facilities across the US and Europe. Sharp is also a world leader
in 'Track and Trace' serialisation services.
Aquilant is a leading provider of outsourced sales, marketing,
distribution and engineering services to the medical and scientific
sectors in the UK, Ireland and the Netherlands.
The company is listed on the London Stock Exchange and is a
constituent of the FTSE 250.
For more information please go to: www.udghealthcare.com
About MicroMass Communications:
Founded in 1994, MicroMass Communications is a US-based
healthcare communications agency specialising in behavioural
science and change strategies on behalf of pharmaceutical
companies. Behavioural science is the scientific and systematic
study of behaviour to explain why people behave in certain ways and
how their behaviour can be changed. In healthcare, this can be used
to improve outcomes.
MicroMass is based in Cary, North Carolina, with more than 100
employees. It uses its unique expertise in health behaviour to
change patient and provider behaviour and deliver optimal health
outcomes. MicroMass provides services across four areas: patient
engagement and support; relationships marketing; precommercial and
clinical; and health behaviour and consulting. MicroMass clients
include leading pharmaceutical companies worldwide such as
GlaxoSmithKline, Sanofi, Merck, Novo Nordisk, Novartis, Gilead and
Teva pharmaceuticals.
For more information, please go to: www.micromass.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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