UDG unloads final Aquilant distribution business for €23 million.

  • UDG unloads final Aquilant distribution business for €23 million.
    Independent.t. E.
    UDG healthcare has sold its Aquilant division for €23m in private equity firm H2 partners.
    https://www.independent.ie/business/irish/udg-offloads-aquilant-final-distribution-business-for-23m-37197580.html
    https://www.independent.ie/business/article37198402.ece/b9f8d/AUTOCROP/h342/IrishJobs.ie%20Team%20Horizon.jpg

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UDG healthcare has sold its Aquilant division for €23m in private equity firm H2 partners.

The unit, which represented about 4pcs from abroad, $67.4 million (€58.1 m) and operating profit for the six months that ended in March, was under pressure during the third quarter.

Aquilant, which distributes specialist medical equipment in Ireland, UK and the Netherlands, performed “for” as compared to the third quarter of the previous fiscal year after the termination of the two contracts, according to a trading update from UDG healthcare.

“After leaving the group chain of the enterprise, organization of drug supply in McKesson in April 2016, at present, the group withdrew from all its lower margin distribution business,” he added.

Proceeds from the sale will be used to support growth in high-yield units abroad, Ashfield and sharp.

N2 will pay the initial €20.5 m in cash for Aquilant, and deferred cash award in the amount of 2.5 million euros.

UDG said the group also recognizes $10 million (€8.6 m) impairment related to the sale of Aquilant, as well as a charge of about 34m $(€29.3 million) related to the accounting of accumulated losses foreign exchange held in the capital.

“Selling Aquilant to the group’s strategy to focus on its high growth, higher margin international medical services,” said UDG healthcare CEO Brendan McAtamney.

Sharp business UDG is involved in packaging of pharmaceuticals, and Ashfield provides wide range of outsourcing services.

UDG said its group trading activities in the third quarter was ahead of last year.

He said, Ashfield communications and consulting also benefited from the acquisition, while the division of commercial and clinical business experienced a difficult quarter.

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