Clinigen Group plc, the specialty global pharmaceutical company, has agreed to acquire Link Healthcare, for an initial consideration of £44.5 million – £22.25 million in cash plus the allotment of £3.1 million – and a maximum cost of approximately £100 million subject to Link achieving a number of milestones.
Link Healthcare is a specialist pharmaceutical and medical technology business operating in the regions of Asia, Africa, and Australia (AAA). The debt-free merger will strengthen Clinigen’s global position in the AAA region, boost its earnings, and promote the company’s underlying philosophy of “getting the right drug to the right patient at the right time regardless of the location anywhere in the world.”
“@LinkHealthcare will drive our philosophy of getting the right drug to the right patient at the right time” – Peter George, @Clinigen CEO
— Clinigen Group (@Clinigen) September 22, 2015
The group will also “gain excellent local knowledge and expertise with Link’s well-established pharmaceutical and medical technology customer bases, access to local target customers of pharmacists and key opinion leaders in these regions,” Peter George, Chief Executive Officer of Clinigen, said. He added that the AAA focused company will enable them meet the increasing demand for hospital-based oncology, anti-infective, orphan and other crucial drugs in pharmerging markets.
The merge of these pharmaceutical groups makes perfect sense as they both share similar visions and values, which is to deliver essential medicines and medical services in places where they are not available or hard to get, due to licensing or lack of supply. “By combining our expertise and geographical footprints, we are well placed to benefit from the tremendous opportunities for growth in new markets and on a global basis,” said John Bacon, Group Chairman and Founder of Link Healthcare.
Founded in 1997, Link’s mission is excellence in the marketing and distribution of vitally important and unique range of in-licensed, proprietary and non-proprietary specialist products that enhance the well-being of thousands of people throughout the AAA region. The company expanded into the African market within three years, from 2010 – 2013, by merging with South Africa’s Equity Pharmaceutical group, thereby creating a business exceeding $70 million.
Both companies are completely focused on specialist pharmaceutical products and medical devices.
