Alliance Pharma completes acquisition
3 Feb 2016 by Evoluted New Media
Alliance Pharma has completed its £127.5m acquisition of the Healthcare Products Business from Sinclair IS Pharma plc.
Alliance Pharma has completed its £127.5m acquisition of the Healthcare Products Business from Sinclair IS Pharma plc.
Containing 27 products such as Kelo-Cote, Flammacerium and Atopivlair, this will see the company, established in 1998, almost double in size. A further $4.7m in inventory formed part of the deal
John Dawson, CEO at Alliance, said: “The completion of this acquisition creates a much larger business for Alliance, with a significant part of its business outside the UK.
Before the acquisition in December, Alliance was marketing more than 60 pharmaceutical and/or healthcare brands throughout out Europe.
The acquired portfolio has almost half its sales coming from markets oversea such as Asia Pacific and the USA.
Lloyds Bank Commercial Banking, The Royal Bank of Scotland and Silicon Valley Bank, provided funding.
Roshan Wijayarathna, Director, UK Corporate Banking for SVB, said: “We are delighted to be joining Alliance's banking group at such an important juncture. This transformative acquisition marks a significant milestone in the company’s growth strategy and creates further geographic and product diversification, setting Alliance up for future expansion.”
Last year, Alliance acquired MacuShield in February and reported £1.4m in sales within 5 months.
