Acquisition PBG strengthens position Mediq Direct & Institutional in Holland
Mediq, international provider of medical devices and pharmaceuticals, acquires PBG. PBG is a supplier of medical devices to diabetics, GPs, obstetricians and other healthcare providers. The acquisition consolidates Mediq’s position on the Dutch market. The purchase price of € 40 million will be financed from available cash resources.
Strategic rationale
- Matches strategy of further expansion of the direct and institutional activities.
- Strengthens Mediq Direct Diabetes’ position in direct deliveries of diabetes supplies to patients’ homes.
- Significantly strengthens Mediq’s position on the institutional market in the Netherlands: PBG is the largest supplier of medical devices and small medical equipment to GPs and obstetricians.
- The larger purchasing and distribution volumes generate economies of scale.
Financial details of transaction
- PBG achieved pro-forma normalised net sales of € 61 million.
- The margin of PBG is in line with the margin of the Direct & Institutional segment.
- Mediq pays a purchase price of € 40 million.
- The acquisition will be financed from available cash resources.
- Contributes immediately to earnings per share.
Marcel van den Broek, Executive Vice President Mediq Direct & Institutional: "The acquisition expands our customer base in the direct diabetes market and substantial enhances our position in the GP market in the Netherlands. We can offer them a complete assortment: from gloves and disinfectants to stethoscopes. As the shift towards primary healthcare accelerates, the role of GPs in healthcare is growing apace. Also in Denmark, Sweden, Finland and the Baltic States we serve GPs – it is a market that we know very well."
PBG’s business model dovetails with the existing direct and institutional activities of Mediq. With its MSN, Vermeulen Medical and Mediteq labels, PBG is the leading supplier to GPs and obstetricians; Medeco, which is part of Mediq, has for many years been supplier to many other professional customers such as hospitals, care institutions and pharmacies. PBG also delivers via the DiaCare and Basic Medical brands diabetes supplies to patients. These activities tie in seamlessly with Mediq Direct Diabetes.
In addition, PBG supplies a wide range of medical disposables and small medical equipment, under the brand names MSN international and DSN, to pharmacies and wholesalers in the Netherlands as well as abroad.
PBG employs a total of 70 people, at locations in Leek, IJsselstein and Ede. We are acquiring the company from Mentha Capital, a Dutch private equity firm, and a private investor.
The acquisition is subject to approval by the Dutch Competition Authority (NMa).
- Matches strategy of further expansion of the direct and institutional activities.
- Strengthens Mediq Direct Diabetes’ position in direct deliveries of diabetes supplies to patients’ homes.
- Significantly strengthens Mediq’s position on the institutional market in the Netherlands: PBG is the largest supplier of medical devices and small medical equipment to GPs and obstetricians.
- The larger purchasing and distribution volumes generate economies of scale.
Financial details of transaction
- PBG achieved pro-forma normalised net sales of € 61 million.
- The margin of PBG is in line with the margin of the Direct & Institutional segment.
- Mediq pays a purchase price of € 40 million.
- The acquisition will be financed from available cash resources.
- Contributes immediately to earnings per share.
Marcel van den Broek, Executive Vice President Mediq Direct & Institutional: "The acquisition expands our customer base in the direct diabetes market and substantial enhances our position in the GP market in the Netherlands. We can offer them a complete assortment: from gloves and disinfectants to stethoscopes. As the shift towards primary healthcare accelerates, the role of GPs in healthcare is growing apace. Also in Denmark, Sweden, Finland and the Baltic States we serve GPs – it is a market that we know very well."
PBG’s business model dovetails with the existing direct and institutional activities of Mediq. With its MSN, Vermeulen Medical and Mediteq labels, PBG is the leading supplier to GPs and obstetricians; Medeco, which is part of Mediq, has for many years been supplier to many other professional customers such as hospitals, care institutions and pharmacies. PBG also delivers via the DiaCare and Basic Medical brands diabetes supplies to patients. These activities tie in seamlessly with Mediq Direct Diabetes.
In addition, PBG supplies a wide range of medical disposables and small medical equipment, under the brand names MSN international and DSN, to pharmacies and wholesalers in the Netherlands as well as abroad.
PBG employs a total of 70 people, at locations in Leek, IJsselstein and Ede. We are acquiring the company from Mentha Capital, a Dutch private equity firm, and a private investor.
The acquisition is subject to approval by the Dutch Competition Authority (NMa).