October 15, 2007 / 1:51 PM / 10 years ago

Ireland's United Drug buys U.S. firm for $10.5 mln

DUBLIN, Oct 15 (Reuters) - Irish healthcare services group United Drug UDG.I said on Monday it had bought U.S. pharmaceutical sales and marketing services company Alliance Healthcare Information Inc for up to $10.5 million in cash.

“Alliance brings additional scale to our existing U.S. Contract Sales Outsourcing and Consultancy business and will allow us to broaden our service offering and customer relationships in the U.S. market,” United Drug (UDG.L) Chief Executive Liam FitzGerald said in a statement.

    United Drug, a distributor of drugs and medical equipment operating in Ireland, Britain and continental Europe, said it had paid $9.5 million for Alliance on completion and would pay a further $1 million if agreed targets are met over the next year.

    Edgemont Capital Partners advised Ivyland, Pennsylvania-based Alliance Healthcare Information on the deal, United Drug said.

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