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Ergomed seeing sold growth in 2023

Last updated: 12:35 31 Dec 2023 GMT, First published: 12:00 21 Aug 2023 BST

Snapshot

  • Ergomed expects growth to continue under new owner
  • Has British biotech outgrown the Square Mile? -ICYMI
  • Ergomed a "quality company", says London bank
  • Ergomed in robust shape to keep delivering
Ergomed PLC -

About the company

Ergomed PLC provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information.

The company's fast-growing services business includes an industry-leading suite of specialist pharmacovigilance (PV) solutions, integrated under the PrimeVigilance brand and a full range of high-quality clinical research and trial management services under the Ergomed brand (CRO).

How it is doing

14 Nov 2023

Ergomed PLC (AIM:ERGO, ETR:2EM) has de-listed from AIM following the completion of a £703 million takeover by private equity group Permira but expects its growth to continue.

Miroslav Reljanović, Ergomed’s executive chairman, said: “With a strong commitment to service quality and customer service, Ergomed has grown significantly to become a global, geographically diversified player in the CRO and PV sectors.

“Permira is a highly experienced healthcare investor with a track record of building successful global businesses, which will support us to build on the foundations we have created.

“Permira brings operational expertise, a global network, capital and, equally importantly, a like-minded approach to how to accelerate our growth.

22 Sep 2023

Ergomed PLC (AIM:ERGO, ETR:2EM) hit the right notes in today’s audited interim earnings call, with the pharmaceuticals sector-focused specialised services group increasing revenues 10% year on year to £76.7 million and underlying earnings 14% to £15.7 million.

Gross margins remained strong at over 40%, with profit after tax staying put at £7.3 million.

04 Sep 2023

Contract research group Ergomed PLC (AIM:ERGO, ETR:2EM) has joined the growing number of companies turning their backs on the UK stock market after agreeing to be taken private by PE giant Permira in a £703.1 million deal.

Investors, including founder Miroslav Reljanović, who has an 18% stake, will receive 1,350p a share in cash – though they can also opt for a partial securities alternative.

Insight: Has British biotech outgrown the Square Mile? -ICYMI

31 Dec 2023

Private equity takeovers in the UK biotech space have grown as long as an NHS waiting list.

But what started as a pure valuation game has brought a mirror up to the Square Mile, reflecting the malaise at the core of London’s capital markets.

What the brokers say

04 Apr 2023

Liberum Capital has reaffirmed its 'buy' recommendation and 1,200p price target on shares in Ergomed PLC (AIM:ERGO, ETR:2EM), a contractor to life sciences companies.

In a 13-page research note, the boutique investment bank's analysts stated: "We remain of the view that Ergomed is a quality company and view any weakness in the share price as a buying opportunity."

Their recent analysis of the company's preliminary results indicates that Ergomed is not immune to the economic downturn, with organic revenue growth rates falling short of expectations.

What management says

17 May 2023

Jonathan Curtain, the new CFO of Ergomed PLC (AIM:ERGO, ETR:2EM), discussed his background and the company's growth prospects in an interview with Proactive London.

The specialist services provider to the pharmaceutical industry focuses on growth areas like rare diseases and oncology.

Curtain brings extensive experience in finance and investor relations from his previous role as Senior Vice President of Finance at NASDAQ-listed CRO, Icon PLC.

Ergomed in robust shape to keep delivering

Jonathan Curtain, the new CFO of Ergomed PLC (AIM:ERGO, ETR:2EM), discussed his background and the company's growth prospects in an interview with Proactive London. The specialist services provider to the pharmaceutical industry focuses on growth areas like rare diseases and...

on 17/5/23