Watermeadow acquired by United Drug
pharmafile | July 5, 2012 | News story | Medical Communications | United Drug, Watermeadow
Medical communications agency Watermeadow has been acquired by healthcare conglomerate United Drug for €16.25m.
The acquisition means Watermeadow joins a firm containing diverse healthcare-related businesses, including healthcare supply chain, packaging and speciality products as well as sales, marketing and medical divisions.
The Group already includes medical communications agencies iMed, QXV, Infusion and Insight under the umbrella of InforMed Group.
Watermeadow will continue to trade under its existing name, and the management team remains unchanged. An award-winning medical communications agency, Watermeadow says it remains completely committed to delivering high quality service, now with access to a wider range of services including market research and enhanced event logistics capabilities.
Managing director Paul Hilditch said: “I’m delighted that Watermeadow will be joining the United Drug group. Together with our new colleagues in the InforMed group, we are a major player in the medical communications arena, while as an independent unit within the group, we will continue to foster the can-do culture and commitment to quality that have always characterised Watermeadow.”
United Drug says the acquisition consolidates its presence in medical communications and global offering for its international pharmaceutical manufacturer customers.
The Ireland-based firm says that £6 million of the acquisition will be paid up front, with an additional amount of up to £7 million payable based on achievement of agreed profit targets over the next two years.
Watermeadow employs 74 people and provides services to global pharmaceutical companies. These services include medical writing and preparation of promotional and educational materials typically for products pre-launch.
All of the employees will remain with the business and Watermeadow will be integrated into the group’s sales, marketing and medical division.
United Drug’s chief executive, Liam FitzGerald said: “We are delighted to announce the acquisition of Watermeadow. The acquisition will allow us to continue to grow our medical communications business as we seek to broaden the range of services we provide to our international pharmaceutical manufacturer customers. Watermeadow has an excellent reputation in the market and I am delighted to welcome them to the Group.”
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