UDG Healthcare buys Galliard Healthcare Communications (‘Galliard’) and Nyxeon (‘Nyxeon’) for up to £13m
· 8th July 2014: UDG Healthcare plc, a leading international provider of healthcare services, announces that it has acquired the specialist healthcare and scientific public relations (PR) businesses, Galliard and Nyxeon (via the acquisition of MFRHRC Holdings Limited).
· MFRHRC Holdings Limited is being acquired for a maximum of £13m plus net assets, payable over the next 3 years.
· D5 Capital, the specialist media & technology corporate finance group, advised Galliard & Nyxeon.
D5 Capital introduced Galliard and Nyxeon to UDG Healthcare in the knowledge that adding healthcare and scientific public relations to UDG’s global healthcare communications business (Ashfield Healthcare Communications) would help create a powerful force in healthcare marketing. D5 Capital helped to structure the deal and negotiate the contract of sale.
Galliard and Nyxeon are headquartered in London and employ 33 people who provide services to global pharmaceutical companies, healthcare-related organisations and charities. The specialist PR services offered by the agencies include; media relations, issues management, scientific & medical education, corporate and employee communications. Galliard was created in 2000 by Marika Freris (previously at Hill & Knowlton) and Rosemary Hennings (previously at The Welcome Trust Limited); Roland Carreras (Managing Partner) subsequently joined Galliard from BUPA in 2002.
Commenting on the announcement, Roland Carreras, Managing Partner of Galliard said: “We are delighted to be joining Ashfield Healthcare Communications (a division of UDG Healthcare PLC), which is becoming a powerhouse in healthcare sales & marketing. The deal sets the scene for the next stage in our growth and we look forward to working with Ashfield’s strong stable of medical education agencies including InforMed, Watermeadow and Knowledgepoint360. D5 Capital has worked hard to find a group with the right fit for our talented team and to deliver the right deal.”
Rupert Ashe, CEO of D5 Capital added: “Galliard is a top healthcare communications business that will thrive in a growing force such as UDG Healthcare, which is a FTSE-250, pure-play healthcare services group. We are delighted to have helped create the platform for Galliard’s & Nyxeon’s future growth.”
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Notes to Editors: About D5 Capital
D5 Capital is a London-based corporate finance advisory group specialising in the media and technology sectors. The company has advised on the sale of over 30 businesses, many in the marketing services industry, including:
· Avenue HKM to Huntsworth plc
· Axicom Communications to WPP plc
· Colman Getty to Four Communications Limited
· Inside Mobile to M&C Saatchi plc
· Red Door Communications to Creston plc
· Santé Communications to FTI Consulting Inc
· Slice PR to Engine Group
· TMI Group to Cello Group plc.
D5 Capital also manages an angel investment group which is active in media and technology finance in Europe and Israel. Recent investments include:
· Graze.com (Food distribution, sold for $130m to Carlyle Europe Technology Partners in 2012)
· Investis (web services group, sold to Gresham Private Equity for £25m in 2012)
· Playsight Interactive (sports technology, co-investing with Wimbledon champion Novak Djokovic)
· Quill (content marketing, co-investing with Smedvig Capital)
· Rentify (SaaS platform for property, co-investing with Balderton Capital)
· Showbox (video production software)
· Spot.IM (distributed social network)
· Walkme (enterprise software, sold to Scale Ventures for 3.5x return in 2014)
· Wix Inc. (web services group, floated on NADSAQ 2013, market capitalisation $750m).