Uniphar acquires the Dutch group BModesto

Irish healthcare services company Uniphar has acquired pharmaceutical wholesaler BModesto Group.

Modesto, headquartered in the Netherlands, offers pharmaceutical and healthcare products across Europe, with a focus on the Dutch, German and UK markets.

Founded in 2014, the group currently employs over 180 people.

In addition to drug distribution, BModesto also provides clinical trial services and supplies medical equipment.

The group’s customer base currently includes pharmacies, hospitals, wholesalers and pharmaceutical companies with a distribution center outside of Amsterdam.

The acquisition included an upfront payment of €51 million and deferred consideration of up to €24 million based on the achievement of EBITDA and gross profit performance targets set by Uniphar.

Last year, BModesto generated an EBITDA of €7.7 million.

Uniphar now estimates that the acquisition will yield a 12 to 15 percent return on investment over the next three years.

“BModesto is a significant addition to the group and strengthens our product access offering in Europe and beyond,” said Uniphar CEO Ger Rabbette.

“The acquisition is another step in our strategy to become a global leader in providing ethical access to medicines unapproved at the point of care.”

“We have common goals, which means we are a great cultural and strategic fit,” added Michael Hendriks, Chief Executive of BModesto.

Uniphar also offered an update on its acquisition of rival pharmacy group NaviCorp, which was first unveiled last December.

The deal is still subject to approval by the Competition and Consumer Protection Commission, with a decision expected next month.

In September, Uniphar also announced that it had acquired leading Irish pharmacy retailer McCauley Pharmacy Group.

https://www.independent.ie/business/irish/uniphar-acquires-dutch-group-bmodesto-42159948.html Uniphar acquires the Dutch group BModesto

Fry Electronics Team

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