Berlin-based Medios AG reports an impending acquisition. According to an agreement, Medios will buy NewCo Pharma GmbH, a national network in Germany. NewCo Pharma Group’s network specializes in the production of patient-specific infusion solutions that are ordered by and dispensed at select pharmacies.
The infusion solutions are dedicated to the treatment of rare and chronic diseases. As a provider of Specialty Pharma Solutions in this country, Medios AG intends to expand its activities in this area, partly because NewCo Pharma GmbH operates five regional manufacturing plants and wholesaling operations in Germany. Moreover, this strengthens the presence of Medios, which is targeting sales of 1.5 billion euros in 2022 in cooperation.
From 2016 to 2020, the NewCo Pharma Group expanded its sales from 91 billion euros to 153 billion euros. In 2020, 75 percent of these total sales were for patient-specific infusion solutions. In fiscal 2022, it is also targeting a threefold increase in capacity and 300,000 manufacturing processes of parenteral solutions.
The closing of the transaction is planned for the coming year, following clearance by the German Federal Cartel Office. Accordingly, the purchase price is to consist of a cash component provisionally valued at EUR 85.2 million. In addition, 924,233 Medios shares will be issued in a capital increase against contribution in kind. Half of these are subject to a lock-up period of 12 and half to a lock-up period of 24 months. The cash amount may also still differ, as it will be finally determined on the basis of a balance sheet to be prepared as of the balance sheet date. To secure the financing of the cash component, Medios has secured a bank loan of EUR 60 million with a short term at market conditions.
Source: www.finanzen.net