Arseus makes three acquisitions, sees more this year
BRUSSELS (Reuters) - Belgo-Dutch medical supplies firm Arseus has made three acquisitions in drug compounding and plans to announce more by the end of the year as it seeks to benefit from a growing trend of pharmacists mixing their own medicines.
The firm, which also sells dentist chairs and surgical equipment, said on Tuesday it has made acquisitions in Brazil, Colombia and Scandinavia worth around 16.5 million euros ($21 million) in total.
The firm is the only real global company that supplies ingredients for compounding, meaning it has become the consolidator in the sector.
"There are lots of opportunities and we are involved in numerous processes now, so we hope to announce a little bit more before the end of the year," Chief Executive Ger van Jeveren told Reuters in a telephone interview.
He said the company has 75 million euros in cash that is still available for acquisitions.
Arseus said the three added companies would generate a combined annual revenue of 12 million euros, with a 25 percent core profit margin.
The acquisitions are to be consolidated from Nov 1. ($1 = 0.7867 euros)