Ireland's largest health services firm is snapping up part of property giant Sisk Group
Uniphar has agreed to buy Sisk Healthcare – an arm of one of the country’s biggest construction groups.
IRELAND’S LARGEST HEALTH supplies and services provider has agreed to buy Sisk Healthcare – part of construction and property giant Sisk Group.
Citywest-based Uniphar Group today announced the deal, its fourth and largest acquisition in recent years as it expands its business in both Ireland and the UK.
While the terms of the agreement weren’t disclosed, Fora understands that the cash component of the cash-and-equity transaction is worth around €65 million.
The deal still needs to be cleared by the Competition and Consumer Protection Commission before it goes ahead.
Uniphar, which has annual turnover of around €1.3 billion, provides outsourced services to both manufacturers and retailers in the health industry, supplying clinical and other staff, medicines and other equipment.
It has more than 1,500 staff on its books across Ireland, the UK and the Netherlands, while Sisk Healthcare has a 280-person workforce.
The pharmacist-owned Uniphar was formed more than two decades ago in a merger between the United Pharmacists Co-op and a pharmaceutical distribution business.
Its previous three acquisitions were for UK businesses and the company said the latest deal followed its “ambitious” growth and development strategy, which was focused on it becoming a leader in outsourced services to manufacturers in the health sector across Europe.
Sisk Group includes 150-year-old construction firm John Sisk & Son, which has been behind many of the country’s biggest construction projects. It recently won two contracts to build the €233 million Center Parcs development in Longford.
Its healthcare division includes several medical equipment supply arms, including cardiac and orthopaedic divisions. The combined group has annual turnover of around €1 billion.
Uniphar CEO Ger Rabbette said the Sisk deal was “an excellent fit” for Uniphar and would work well within its portfolio of companies, which combined to service the healthcare sector across Ireland, the UK and the Benelux region.
