UDG Healthcare snaps up US-based MicroMass for $76m

Courtney Goldsmith
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UDG Healthcare provides outsourced healthcare services (Source: Getty)

Healthcare services firm UDG Healthcare has picked up US communications group MicroMass for $75.8m (£56.6m) as the latest in a string of acquisitions.

The FTSE 250 firm today revealed it would pay an initial consideration of $63.8m with an additional consideration of up to $12m payable to the US-based group over the next three years based on the achievement of agreed profit targets.

Shares in UDG, which provides outsourced services, rose 2.57 per cent to 864p in afternoon trading.

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MicroMass specialises in behavioural change, providing solutions across all therapeutic areas that improve patient and health outcomes by changing patient and provider behaviour.

"As the role of patients in healthcare decision making expands, coupled with the ongoing shift to digital channels, demand from pharmaceutical companies for behavioural change and direct patient engagement capabilities is increasing," UDG said in its statement.

Chief executive Brendan McAtamney said the firm had spent more than $275m on acquisitions this financial year, in line with its strategy of expanding in high growth, high margin areas.

McAtamney said: "[MicroMass] have developed a highly-differentiated suite of patient and HCP [healthcare professional] solutions, with a strong reputation and a significant presence within the highly fragmented healthcare communications market."​

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