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UDG buys healthcare communications business for $144 mln
February 27, 2014 / 10:07 AM / in 4 years

UDG buys healthcare communications business for $144 mln

Feb 27 (Reuters) - UDG Healthcare Plc said it acquired KnowledgePoint360’s healthcare communications business for $144 million in cash to expand in the United States and Europe.

UDG, which provides outsourced sales and marketing, drug distribution and packaging services to healthcare companies, said it planned to fund the acquisition through existing cash facilities.

UDG said it expected the acquisition to immediately add to earnings.

KnowledgePoint360 provides medical education, publication support and scientific content development to global pharmaceutical companies.

Shares in UDG rose as much as 3 percent to 380.1 pence on Thursday, but shed some gains to trade at 377 pence at 1004 GMT on the London Stock Exchange.

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