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04 Jul 2022

Science and MedTech distribution company in Kildare sold for €60 million to British rival

Science and MedTech distribution company in Kildare sold for €60 million to British rival

It has also been reported that the purchase price represents a multiple of 9.5 times earnings before interest and tax. Pic: M7 Business Park, Google Maps

A company specialising in distributing state-of-the-art science and MedTech which is based in Kildare has been sold for €60 million to a British rival.

The Times Ireland has reported that Accuscience, which is located in the M7 Business Park in Naas, has been bought by Diploma for £51 million (€60 million).

Former Tánaiste Mary Harney chairs the board at Accuscience’s ex-owner, a healthcare services provider named Pharmed.

Johnny Thomson, Diploma’s chief executive, said the purchase would 'increase the group’s exposure to high-growth diagnostics and add scale to its life sciences business.'

It has also been reported that the purchase price represents a multiple of 9.5 times earnings before interest and tax.

Products the company distributes include surgical products,  blood transfusion equipment and laboratory equipment.

According to the official website for Accuscience, the company was founded in 1982, and acts as 'a trusted and proven supplier to public and private hospitals, blood transfusion centres, pharmaceutical manufacturers and healthcare professionals.'

Read more Kildare business news here

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