Clinigen’s £225m acquisition of Idis goes ahead
Acquisition accelerates the company's growth, provides a better balanced portfolio and extends its business model
Clinigen Group has acquired Idis Group Holdings to create the market leader in the ethical unlicensed supply of medicines following £106m of funding from Santander, Royal Bank of Scotland and HSBC. Idis has been acquired for an enterprise value of £225m.
The Clinigen Group is dedicated to delivering ‘the right drug to the right patient at the right time.’ Through its complementary business units, Clinigen supplies clinical trial, licensed and ethical unlicensed critical and life-saving drugs, and serves patients, the medical community and the healthcare industry.
Established for 25 years, Idis supplies ethical unlicensed medicines predominantly on an exclusive basis through managed access programmes and on-demand through its general access division.
Peter George, Chief Executive Officer of Clinigen Group, said: ‘Our acquisition of Idis makes us the market leader in the US$5bn ethical unlicensed medicine supply sector and strengthens our leading position in the $2bn clinical trial supply market. The acquisition accelerates our growth and gives us a much better balanced portfolio of businesses, whilst extending our unique business model.’
Joe Duane, Relationship Director, Santander, said: ‘The global ethical unlicensed supply market represents a significant growth opportunity for Clinigen. As a market leader, the firm will look to shape and define the fast growing market, and we are delighted to be able to support the group in this endeavour.’
Steve North, Relationship Director, HSBC said: ‘The acquisition of Idis is strategically compelling and a complementary fit for Clinigen’s unique business model, creating the market leader in its field. HSBC is proud to support the group as it enters its next chapter of growth.’
Steve Simpson, Director, RBS, said: ‘RBS has held a relationship with Clinigen for many years and we are delighted to welcome both HSBC and Santander into the banking arrangement to further support Clinigen’s growth.’
