Alliance Pharma buys Sinclair’s healthcare products business for £132m
Alliance has completed a £132 million purchase of Sinclair IS Pharma’s non-aesthetics healthcare business as it moves to strengthen its dermatology portfolio.
Alliance says the deal will “significantly increase [its] footprint outside of the UK and will provide an enhanced platform for further corporate development.”
The Wiltshire, UK-based company adds 27 products with the acquisition, including scar treatments Kelo-Cote and Flammacerium, the ulcer relief product Aloclair, stretch-mark treatment Kelo-stretch and atopic dermatitis cream Atopiclair.
The terms of the transaction were originally announced in November. Speaking when the deal was announced, Alliance chief executive John Dawson, chief executive of Alliance, said: “This acquisition represents a very significant development for Alliance. On completion, Alliance will be a significantly larger business with synergies in existing markets. Having over half of our business outside of the UK, we will have a greater ability to compete for international deals and in-licensing opportunities.”
Sinclair meanwhile says the deal has streamlined its own business, creating a “pure-play highly differentiated aesthetics company, operating in a high growth, self-pay market with high gross margin.”
The London-based company specialises in medicinal and aesthetic dermatology products. It says it is plotting entry to multiple new geographic markets and line extension launches over the next few years. In the year to June 2015, the healthcare products business generated revenues of £43.3 million.
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