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Uniphar unveils plans for AIM float in July

The group, which distributes pharmaceuticals to hospitals, pharmacies and clinics, said the proceeds of the float would be used to complete the acquisition of Durbin, a specialist supplier of pharmaceuticals with offices in the UK and the US

World pharma
The company is also planning to use the funds to expand its international distribution networks

Irish healthcare firm Uniphar PLC is aiming to raise €150mln as part of plans to list on the AIM market in July.

The group, which distributes pre-wholesale and wholesale pharmaceuticals to hospitals, pharmacies and clinics, said the proceeds of the float would be used to complete the acquisition of Durbin, a specialist supplier of pharmaceuticals with offices in the UK and the US.

The funds would also be used for bolt-on acquisitions in the near-term as well as to pay for fees and other expenses related to the float.

Uniphar plans to double its earnings (EBITDA) over the next five years by scaling up its relationships with pharma manufacturers and growing its distribution networks in Europe from an existing presence in Ireland, the UK and the Benelux countries. The group also plans to enter the Nordic market this year.

In 2018, the company generated EBITDA of €46.3mln with revenues of €1.55bn.

Ger Rabbette, Uniphar’s chief executive, said the with two-thirds of the group’s earnings now derived from its international Commercial & Clinical and Product Access the company was poised to become a “truly global provider” of pharmaceuticals and medical technologies.

Quick facts: Uniphar PLC

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Price: 366 GBX

Market Cap: £999.24 m

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