Mediq starts in France with acquisition NM Médical
Mediq, international supplier of medical devices and pharmaceuticals, acquires the French company NM Médical. The acquisition of NM Médical will make Mediq a leading supplier of medical devices to GPs in France. Mediq did not previously have any activities in France and, following the acquisition, Mediq will be active in 15 countries. The purchase price of €17 million will be financed from available cash resources.
NM Médical supplies a broad range of medical devices to healthcare professionals, mainly GPs but physiotherapists as well. The range encompasses all medical devices required by healthcare professionals, from stethoscopes, diagnostic equipment and sterilisation materials to disinfectants and wound care products.
Strategic rationale, the acquisition:
- matches Mediq Direct & Institutional's strategy of international expansion;
- makes Mediq an important player in supplying medical devices to GPs in France;
- gives Mediq a new platform for launching direct activities in France in the future;
- makes Mediq a more attractive partner for suppliers due to its expanded country coverage;
- fits into Mediq's current activities as a supplier to GPs in Denmark, Sweden, Norway, Finland, the Netherlands and the Baltic States; and
- generates economies of scale owing to larger purchasing volumes.
Financial details of transaction
- NM Médical achieved net sales of €25 million in 2010;
- Its margin is in line with that of Mediq Direct & Institutional;
- Purchase price of €17 million;
- The acquisition will be financed from available cash resources;
- Contributes immediately to earnings per share.
Marc van Gelder, CEO of Mediq: "Supplying medical devices to GPs is growing into an increasingly important activity for Mediq. We are seeing a progressive shift from secondary to primary healthcare aimed at ensuring that healthcare remains affordable. A shift in which GPs play an important part. And the move into France of course represents a major international expansion. Looking ahead, in addition to expanding our institutional business, we also expect to deliver medical devices to patients' homes via Mediq Direct in the long term."
NM Médical employs 81 people. Its experienced management will be retained, as will all of its employees. NM Médical was incorporated in 1975 and operates from two locations, in Paris and Lille.
Last week, Mediq announced the acquisition of PBG in the Netherlands and last year Mediq acquired Opco in Denmark. These companies likewise specialise in supplying medical devices to GPs.
Strategic rationale, the acquisition:
- matches Mediq Direct & Institutional's strategy of international expansion;
- makes Mediq an important player in supplying medical devices to GPs in France;
- gives Mediq a new platform for launching direct activities in France in the future;
- makes Mediq a more attractive partner for suppliers due to its expanded country coverage;
- fits into Mediq's current activities as a supplier to GPs in Denmark, Sweden, Norway, Finland, the Netherlands and the Baltic States; and
- generates economies of scale owing to larger purchasing volumes.
Financial details of transaction
- NM Médical achieved net sales of €25 million in 2010;
- Its margin is in line with that of Mediq Direct & Institutional;
- Purchase price of €17 million;
- The acquisition will be financed from available cash resources;
- Contributes immediately to earnings per share.
Marc van Gelder, CEO of Mediq: "Supplying medical devices to GPs is growing into an increasingly important activity for Mediq. We are seeing a progressive shift from secondary to primary healthcare aimed at ensuring that healthcare remains affordable. A shift in which GPs play an important part. And the move into France of course represents a major international expansion. Looking ahead, in addition to expanding our institutional business, we also expect to deliver medical devices to patients' homes via Mediq Direct in the long term."
NM Médical employs 81 people. Its experienced management will be retained, as will all of its employees. NM Médical was incorporated in 1975 and operates from two locations, in Paris and Lille.
Last week, Mediq announced the acquisition of PBG in the Netherlands and last year Mediq acquired Opco in Denmark. These companies likewise specialise in supplying medical devices to GPs.