Uniphar, the Irish-listed healthcare group, has reported earnings of €98 million for 2022 which is an increase of 13.4 per cent on the previous year. Uniphar is our Company of the Month March 2023, in association with KPMG.
Company of the Month
The Company of the Month Award, in association with KPMG, recognises outstanding Irish companies. It especially acknowledges those who have made significant contributions to the business community of Ireland.
Recipients of the award are automatically put forward as candidates for the prestigious Company of the Year Award at the annual Business & Finance Awards.
Uniphar
Dublin-based Uniphar is a healthcare services business which partners with over 200 global multinational pharmaceutical and med-tech manufacturers in Europe, North America Asia-Pacific, the Middle East and North Africa to meet their servicing requirements. The group operates across commercial & clinical, product access, supply chain and retail divisions. The company was founded in 1994 when United Pharmacists Co-op merged with Allied Pharmaceutical Distributors to form Uniphar Group. The group has a workforce of almost 3,000 worldwide and they deliver to 160 countries.
In February 2023, the group reported an increase in earnings on the previous year. This increase reflects strong performance of the group in addition to a number of acquisitions across the year.
Acquisitions
In 2022, the company acquired four companies including BModesto Group, a Dutch pharmaceutical business, in a deal worth €75 million. The company, which will be attached to Uniphar’s product access division, generated earnings before interest, taxes and depreciation of €7.7 million. It is expected to generate a return on capital employed of between 12 per cent and 15 per cent, “in line with Uniphar’s target rate”, within three years, the company said in a statement.
At the time, Ger Rabbette, Chief Executive Officer of Uniphar, said the acquisition was a significant one for the group, strengthening its “product access offering in Europe and beyond.” Uniphar also acquired the US company, Inspired Health, headquartered in Boston, which is an insights and intelligence consultancy.
More recently, Rabbette commented on the earnings results. “The group performed strongly throughout 2022, making further progress against our financial and strategic objectives,” he said. “We also made key investments that will ensure continued, robust growth into 2023 and beyond. . . We will continue to apply a disciplined approach to capital deployment both organically and through M&A where such investment accelerates our strategic plans and delivers a return on capital employed within or above our targeted range of 12 per cent – 15 per cent within three years.”
Rabbette has been Group CEO of Uniphar since 2010.
See here for more information on the 2023 Business & Finance Awards. To get involved, please contact Brian.Kearns@businessandfinance.com
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Business & Finance, Company of the Month
