CLINIGEN ACQUIRES SWISS BASED IQONE HEALTHCARE HOLDING
Clinigen Group plc (AIM: CLIN, ‘Clinigen’ or the ‘Group’), the global pharmaceutical and services company, has agreed to acquire iQone Healthcare Holding (‘iQone’), a privately owned Swiss based speciality pharmaceutical business for an initial consideration of €7.5 million (£6.7 million) on a cash free, debt free basis.
iQone is based near Geneva with operations across Europe. It has medical and commercial operations in France, Germany, Italy, Spain and Switzerland. Its team has extensive experience in the set up and delivery of both Managed Access Programs and commercial solutions across Europe.
iQone adds capability to Clinigen’s Unlicensed and Commercial divisions, whilst also offering the Group a platform to support and expand its activities in mainland Europe. It also provides iQone with resources and access to an extensive customer and product base to accelerate its growth.
Clinigen is acquiring iQone on a cash free, debt free basis for a total initial consideration of €7.5 million, made up of €5.0m in cash and €2.5m in new Clinigen shares, with an additional potential deferred consideration based on the achievement of certain future EBITDA targets.
The Group has also published today its year end results and announced that it is acquiring CSM – see separate announcements.
Shaun Chilton, Group Chief Executive Officer, Clinigen, said:
“Expanding our geographical footprint to support our activities in mainland Europe is a key benefit of this acquisition, along with the additional services it will offer our customers in Unlicensed Medicines. It also has the potential to drive growth in our owned Commercial Medicines portfolio.
“This acquisition coincides with our Full Year Results and the strategic acquisition of CSM, both announced earlier this morning. Today sees a significant strengthening in the Clinigen offering both through an increased global footprint, particularly in Europe, and across each of our three business divisions.”
Laurent Massuyeau, Chief Executive Officer, iQone, said:
“We explored multiple strategic options which would allow iQone to grow and fulfil its potential. Clinigen is a recognised industry leader across the unlicensed and licensed medicine sectors. As both our companies share a common vision, we believe that being part of the Clinigen Group provides a compelling strategic fit and a strong growth potential.”
The €2.5m of initial share consideration will be satisfied through the issuance of 241,744 new Ordinary Shares in Clinigen (the “New Ordinary Shares”) at an issue price of 925.13 pence per share. Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will occur at 8:00 a.m. on 9 October 2018. Completion of the acquisition is expected to take place on or about 9 October 2018. The Ordinary Shares will rank pari passu with the Group’s existing ordinary shares in issue.
- Ends -
Clinigen Group plc
Shaun Chilton, Group Chief Executive Officer
David Bryant, Chief Business Officer
Matt Parrish, Head of Investor Relations
Tel: +44 (0) 1283 495010
Numis Securities Limited
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black / Tom Ballard (Corporate Broking)
Tel: +44 (0) 20 7260 1000
RBC Capital Markets - Joint Broker
Marcus Jackson / Elliot Thomas
Tel: +44 (0) 20 7653 4000
Melanie Toyne-Sewell / Alex Shaw / Deborah Bell
Tel: +44 (0) 20 7457 2020
NOTES TO EDITORS
The Unlicensed Medicines operation encompasses Managed Access and Global Access division, and the unlicensed businesses within Link and Quantum. The Commercial Medicines business encompasses Clinigen’s own products and the commercial businesses of Link and Quantum.
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and services company with a unique combination of businesses focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time through three areas of global medicine supply; clinical trial, unlicensed and licensed medicines.
Clinigen acquires global rights to niche hospital only and critical care products, revitalising these assets around the world and returning them back to sustained growth. It is also the commercial partner for licensed and branded generic medicines in regions such as the Africa and Asia Pacific region.
The Group also has an ‘unlicensed to licensed’ strategy, where it looks to take unlicensed medicines with commercial potential and licences them, helping to address unmet medical need and allowing the Group to capitalise on its market-leading positions.
Clinigen is the global leader in ethically sourcing and supplying unlicensed medicines to hospital pharmacists and physicians for patients with a high unmet medical need. The Group manages early access programs for innovative new medicines and provides ‘on-demand’ access globally to medicines which remain unlicensed at the point of care.
Clinical Trial Services
Clinigen is the global market leader in the specialist supply and management of quality-assured comparator medicines and services to clinical trials and Investigator Initiated Trials.
For more information on Clinigen, please visit www.clinigengroup.com