LONDON, UK: Uniphar plc has announced the acquisition of BESTMSLs Group comprising of BESTMSLs, The Doctors Channel & MDea.
BESTMSLs Group is a New York-headquartered company that provides outsourced Medical Affairs services including the provision of contract Medical Science Liaison (“MSL”) teams, MSL recruiting, training, education and a range of innovative digital solutions for its pharma partners.
BESTMSLs Group also operates The Doctors Channel, a digital platform which delivers expert medical information condensed into short streaming videos.
The Company’s founders have > 30 years of experience in outsourced medical affairs and their vision is to lead the industry and provide cutting-edge, creative medical education programs and MSL teams that engage, educate, and enhance patient care.
The Company leverages a suite of digital platforms and tools to deliver innovative solutions for their partners. Medical Affairs is a fast-growing market due to the increasing complexity, specialty, and cost of emerging pharmaceutical products.
The role MSLs play is becoming increasingly important across both late stage clinical trials through to commercialisation. The acquisition increases Uniphar’s presence in the strategically important US market & BESTMSLs Group will work alongside, and benefit from, our recent US acquisitions of Diligent Health Solutions and RRD International.
The purchase price includes an upfront payment plus contingent consideration payable upon achievement of EBITDA based performance targets. BESTMSLs Group operate with a core team of 13 colleagues plus an average of c. 35+ contract MSLs at any one time.
The whole team, including founder David Best, MD MBA, and Managing Director Michael Banks, MD, recognise the enhanced opportunity to grow the business as part of Uniphar Group and remain fully engaged as a core part of the business going forward. The acquisition is forecast to deliver a Return on Capital Employed to the Group in line with Uniphar’s target rate of 12%-15% within three years.
Ger Rabbette, CEO of Uniphar said: “BESTMSLs is a strong strategic fit for Uniphar given 1) the increasingly important role MSLs play across both late stage clinical trials through to commercialisation and 2) increasing our presence in the strategically important US market. This acquisition will benefit from the good work Diligent Health Solutions and RRD International are doing. Our growing US based team are excited about the value they can deliver together.”
David Best, MD MBA, Co-Founder and Managing Director of BESTMSLs Group said: “BESTMSLs Group coming under the broader Uniphar umbrella enables us to continue to deliver for our existing partners while also exploring new cutting-edge opportunities through close collaboration with great service providers such as Diligent Health Solutions. As we like to say, ‘Stay on the edge, more happens there.’”
Michael Banks, MD, Co-Founder and Managing Director of BESTMSLs Group said: “This is an exciting milestone for BESTMSLs Group, we are enthused by Uniphar’s shared passion to invest in innovative digital solutions to drive better outcomes for our pharma partners, and most importantly improve the lives of patients. What has always driven us is the saying, ‘If you only give the client what they already want, someone else will give them what they never dreamed possible.’
Uniphar PLC share price
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30 Jul, 4:06 pm GMT+1 ·Disclaimer
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