REG - Uniphar PLC - Acquisition of McCauley Pharmacy Group

UnipharAnnouncement

19/09/2022 07:00

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RNS Number : 8402Z  Uniphar PLC  19 September 2022

Uniphar plc today announces the acquisition of McCauley Pharmacy Group

 

Dublin, London | 19 September 2022: Uniphar plc (the "Group" or "Uniphar")
today announces the acquisition of Dublin headquartered McCauley Pharmacy
Group ("McCauley").

The acquisition of McCauley adds 37 retail pharmacies to the Group
complementing Uniphar's growing footprint of symbol group members.

McCauley is widely recognised as a leading provider of pharmacy and retail
services in Ireland and a market leader in the delivery of health, wellbeing,
and beauty products. McCauley's expertise in this sector, combined with its
customer-focused digital platforms will further support Uniphar's consumer
business, which continues to demonstrate strong growth.

The Supply Chain & Retail division continued to outperform its medium-term
guidance during H1'22 and continuing to evolve our market leading service
offering across this vital service sector remains a priority for the Group.

The acquisition of McCauley, which is subject to approval by the Irish
Competition and Consumer Protection Commission, will be earnings accretive
from completion. Earnings will be enhanced further through leveraging the
Group's scale and infrastructure and the acquisition is expected to deliver a
Return on Capital Employed in line with Uniphar's target rate of 12%-15%
within three years.

 

Commenting on today's announcement

Ger Rabbette, CEO of Uniphar said:

"The acquisition of McCauley further improves our leading position in the
Irish retail pharmacy market. McCauley is widely recognised as a leading brand
across health, wellbeing, and beauty. Their expertise and advanced digital
offering will complement our fast-growing consumer business in the Supply
Chain & Retail division. The acquisition will be earnings accretive from
completion, with further efficiencies to be delivered in the medium term and
will deliver a Return on Capital Employed of 12-15% within three years."

Tony McEntee, CEO of McCauley Pharmacy Group said:

"With Uniphar's strong track record in this  sector, the future of the
McCauley business is in very safe hands. We extend our thanks to all McCauley
staff who have played such a critical role in the transformation of the
business over the past number of years and, in particular, for their hard work
and tireless commitment throughout the Covid-19 pandemic."

 

For further details contact:

 Uniphar                                                                      +353 (0) 1 428 7777

 Seamus Egan
 Head of Corporate Development and IR                                         investor.relations@Uniphar.ie (mailto:investor.relations@Uniphar.ie)

 Davy (Joint Corporate Broker, Nominated Adviser and Euronext Growth Listing  +353 (0) 1 679 6363
 Sponsor)
 Barry Murphy
 Niall Gilchrist
 Lauren O'Sullivan

 RBC Capital Markets (Joint Corporate Broker)                                 +44 (0) 20 7653 4000

 Jonathan Hardy
 Jamil Miah

 Stifel Nicolaus Europe Limited (Joint Corporate Broker                       +44 (0) 20 7710 7600
 Matt Blawat
 Ben Maddison
 Francis North

 Q4 PR                                                                        +353 (0) 1 475 1444 or
 (Public Relations Adviser to Uniphar)                                        +353 87 235 6461

 Iarla Mongey

 

 

About Uniphar plc

 

 

Headquartered in Dublin, Ireland, the Uniphar Group 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 is active in Ireland, the UK, Europe, the US and
Australia.

The Company'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.

 

Commercial & Clinical

In Commercial & Clinical, the Group provides outsourced sales, marketing
& distribution solutions to multinational pharmaceutical and medical
device manufacturers. Active in Ireland, the UK, Benelux, the Nordics, Germany
and the US, the Group is growing with its clients to provide pan-European
solutions, with a targeted service offering in the US. Uniphar has built fully
integrated digitally enabled customer centric solutions that are supported by
our highly experienced and clinically trained teams, leveraging our digital
technology and insights which allows us to deliver consistently exceptional
outcomes for our clients.

 

Product Access

In Product Access, the Group is growing two distinct service offerings: 1) "On
Demand", which are pharmacy led solutions for sourcing and supplying
unlicensed medicines to meet the needs of both retail and hospital
pharmacists; and 2) "Exclusive Access", which are manufacturer led solutions
for controlling the release of speciality medicines for specifically approved
patient populations in agreed markets. The Group currently delivers product
access solutions on a global basis.

 

Supply Chain & Retail

Uniphar is an established market leader in Ireland with c. 53% market share in
the wholesale/hospital market, supported by a network of 381 owned, franchised
and symbol group pharmacies. The business supports the diverse customer base
through the provision of strong service levels coupled with innovative
commercial initiatives. Supply Chain & Retail is an Irish only business
for the Group, although the manufacturer relationships and infrastructure are
also utilised for the benefit of the Commercial & Clinical and Product
Access divisions

 

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