Ergomed plc, a UK based company dedicated to the provision of specialised services to the pharmaceutical industry, has announced it has made the strategic acquisition of Sound Opinion.
Sound Opinion, a Medical Information Service Provider, will be combined with Ergomed’s existing fast growing post-marketing business, PrimeVigilance.
The acquisition, expected to be accretive in the first year, will be paid for from existing cash reserves with an earn-out based on future performance.
In line with Ergomed's preferred acquisition targets, Sound Opinion has been trading profitably for over 18 years, providing outsourced MI services to pharma and generic companies selling medicines in the UK and Ireland.
This acquisition is the next step in Ergomed’s strategy of strengthening the group’s presence in the fast growing pharmaceutical post-marketing services sector that started with the acquisition of PrimeVigilance at the IPO in July 2014.
Sound Opinion will be immediately combined with the existing MI business of PrimeVigilance, which has an established UK and international footprint including native speakers in a number of European and other languages.
The medium term strategy is to build out the combined strength in UK MI services into the main European markets whilst continuing to expand in the UK.
The current operational staff and management of Sound Opinion will all stay involved with the business after completion.
Miroslav Relijanovic, Chief Executive of Ergomed, said: “The acquisition of Sound Opinion is in line with Ergomed’s strategy to expand our post-marketing services capacity, a sector we think is critical to the future approval of new medicines and treatments.
“Medical information is a very good presence in pharmacovigilance and drug safety through the PrimeVigilance brand, and we are extremely pleased to acquire Sound Opinion with its strong legacy and existing client business.
“I would like to welcome the Sound Opinion clients and staff to Ergomed and look forward to working with them.”