Brocair Partners LLC, an investment bank serving the healthcare industry, advised on the acquisition of the US and UK-based healthcare communications business of KnowledgePoint360 by Ireland-based UDG Healthcare
NEW YORK, NY – March 20, 2014 – Brocair Partners LLC, an investment banking firm serving the healthcare industry, advised UDG Healthcare plc, a London Stock Exchange-listed leading international provider of services to healthcare manufacturers and pharmacies based in Dublin, Ireland, on its acquisition of the healthcare communications business of KnowledgePoint360. KnowledgePoint360 is based in Macclesfield, United Kingdom, and Lyndhurst, New Jersey, and was a portfolio company of ABRY Partners, based in Boston, Massachusetts.
The deal, agreed at a total cash consideration of $144 million [€105 million], is expected to complete by the end of March 2014.
The acquisition establishes UDG Healthcare as a leader in the global healthcare communications market, complementing UDG Healthcare’s existing global healthcare communications offering, which it provides through its Ashfield Division in the UK and the US.
Gregg Blake, Managing Partner of Brocair, explained, “UDG has been a long-standing client of Brocair, and we have evaluated a range of opportunities for strategic investment over the years. The transaction represents the largest acquisition to date in UDG’s history, and will position UDG’s Ashfield Division as the leading provider of healthcare communications services worldwide, with a very strong market position in Europe and North America.”
Liam Logue, Director of Group Corporate Development at UDG Healthcare, remarked “Gregg and the rest of the Brocair team were exceptionally professional and responsive throughout the transaction process. Their efforts were critical in helping us refine our approach and work through the complexities that always emerge during the negotiation process. We were very pleased with Brocair’s contribution to the transaction.”
UDG Healthcare plc is a leading international provider of services to healthcare manufacturers and pharmacies, with operations in 22 countries including the US, UK, Ireland and Germany. The Group operates across three divisions: Ashfield Commercial and Medical Services, Supply Chain Services and Sharp Packaging Services.
Ashfield Commercial and Medical Services is a global leader in the provision of contract sales outsourcing services to pharmaceutical manufacturers, with operations in major markets including continental Europe, the UK, North America and a presence in South America and Asia. The division provides sales teams, telesales, nurse educators, medical information, healthcare communications and event management services to healthcare companies in 22 countries. It focuses on supporting healthcare professionals and patients at all stages of the product life cycle.
KnowledgePoint360 is a leading global provider of multi-channel healthcare communication services. It employs over 600 staff across 10 global locations. KnowledgePoint360 is principally a healthcare communications business, including medical education, publication support, thought leader engagement and scientific content development, with a complementary meetings management division. These services are normally sold to global pharmaceutical companies across the medicines life cycle but, in particular, at the pre-launch stage, to educate key influencers about the therapeutic category and the relevant products being brought to market.
Brocair Partners LLC, with its headquarters in New York, provides investment banking services to businesses serving the healthcare, wellness, and pharmaceutical industries. Brocair provides mergers & acquisitions, corporate finance, and strategic advisory services to companies worldwide.