DUBLIN: Uniphar plc announced the approval by the Competition and Consumer Protection Commission (CCPC) of the acquisition of Hickey’s Pharmacy Group previously disclosed on 2 September.
The acquisition is earnings accretive from completion and will be further enhanced through leveraging Uniphar’s existing infrastructure and scale to unlock additional synergies. As previously guided, this is expected to result in an uplift of c.6% on Group EPS for H1 2021 rising to 9% in H2 2021, with additional synergies to be delivered in 2022.
Uniphar’s experienced management will ensure integration is executed effectively to achieve the identified benefits.
Ger Rabbette, Uniphar Group Chief Executive Officer said: “We are delighted to announce the acquisition has been approved by the CCPC within our expected timeline. Hickey’s further enhances our leadership position in Supply Chain & Retail in the Irish market. The Hickeys group bring with it an excellent management team and we welcome on board all of our new colleagues from Hickeys”
Headquartered in Dublin, Ireland, Uniphar plc is an international diversified healthcare services business, servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions – Commercial & Clinical, Product Access and Supply Chain & Retail.
The Group has strong established relationships with 7 of the top 10 pharma companies and 6 of the top 10 medical device companies. With a workforce of more than 2,300, the Group is active in Ireland, the UK, the Benelux, the Nordics and the US, delivering unlicensed and specialty medicine on a global basis.
The Group’s vision is to improve patient access to pharmaco-medical products and treatments by enhancing connectivity between manufacturers and healthcare stakeholders. Uniphar represents a strong combination of scale, growth and profitability.