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Wilmington acquires pharmaceutical software and solutions group Interactive Medica
Education and networking provider Wilmington acquired the Interactive Medica (IM) group of companies for an initial consideration of 2.8m with an adjustment for working capital payable on completion.
The acquisition of IM, a pan-European provider of cloud-based insight to the pharmaceutical industry, included an estimated 600,000 of cash on completion, with a further deferred consideration of up to 1.6m subject to the firm hitting revenue targets for the period to 31 December.
Wilmington funded the acquisition from its existing debt facilities and was expected to be completed by 31 January, with the firm expecting it to be earnings per share enhancing in the first full year of ownership.
Discussing the acquisition Pedro Ros, chief executive of Wilmington, said, "I am pleased to announce the acquisition of Interactive Medica which represents an exciting opportunity for Wilmington to strengthen its technological capability and expand its growing healthcare presence in Europe."
"Our market-leading UK healthcare business has been built on one of the richest sources of healthcare intelligence available. The addition of IM's proven technology will enhance its value still further by enabling this intelligence to be used even more effectively by our clients," he added.
As of 1120 GMT, shares had gained 1.66% to 245.00p.