Consort Medical has announced that it has agreed terms to acquire Aesica Pharmaceuticals for £230 million. The transaction, which is expected in November, is conditional on the approval of Consort Medical’s shareholders and clearance by the German competition authorities.
Consort Medical is the UK-based company behind Bespak, which develops and manufactures disposable medical devices for drug delivery including inhaled, nasal and injectable products.
Since Aesica was established in 2004, it has grown considerably, with a series of major acquisitions and enjoys relationships with major global blue-chip pharmaceutical companies.
Jon Glenn, Consort Medical PLC’s CEO said “We are excited by the acquisition of Aesica which represents a very strong fit with our existing strategy of diversifying into adjacent markets and technologies to capture additional value in the drug/device supply chain. As one of Europe’s leading pharmaceutical CDMOs, Aesica is highly complementary to Bespak’s existing business and provides a number of clear strategic, competitive and value-enhancing benefits for the Enlarged Group.”
Dr Robert Hardy, founding CEO of Aesica, added: “We are proud of what we have accomplished with Silverfleet Capital’s support in developing Aesica through a combination of organic growth, continuous process improvement and investment in capacity. We continue to see many exciting opportunities in the pharmaceutical contract manufacturing sector and we look forward to pursuing these under the ownership of Consort Medical plc.”