Dublin, London | 12 May 2021
Uniphar plc (the "Company" or "Uniphar") is holding its AGM today at 11am BST at Uniphar's registered office, 4045 Kingswood Road, Citywest Business Park, Dublin 24, D24 V06K.
At the AGM, Maurice Pratt, Chairman of Uniphar, will make the following statement:
"Uniphar delivered a strong financial performance in 2020, outperforming expectations. We continue to execute on our strategy: building out our global Product Access platform and a pan-European platform in Commercial & Clinical through a combination of organic growth and M&A, while simultaneously strengthening our market leading position in Supply Chain & Retail.
During the year, the Group successfully completed a number of acquisitions including the Hickey's Pharmacy Group, Innerstrength Limited and two US acquisitions, Diligent Health Solutions and RRD International. The significant progress made during the year is reflected in the financial performance, with Uniphar achieving 20.3% growth in gross profit, EBITDA growth of 13.9% and ending the year with strong liquidity and modest leverage of 0.6x.
The Covid-19 outbreak in 2020 highlighted the significant role Uniphar plays in the healthcare infrastructure in the markets we serve. We continue to take all necessary precautions to ensure our workforce remain safe as they work to ensure continuity in the supply and distribution of much needed medicines, medical devices and related services. Our "can-do" culture, grounded in strong ethical values, has been very much in evidence this year as our business, our people, our stakeholders and our communities faced the challenges presented by Covid-19. Our focus on digital solutions has proven to be a core strength and enables our workforce to continue to operate effectively. The dedication of our teams, and the manner in which they are supporting each other and responding to the needs of the communities in which they operate, has been exceptional.
The strong momentum achieved throughout 2020 has continued into 2021 and the Group has traded well, pivoting quickly to respond to the changes and challenges caused by Covid-19 in our markets. We remain confident of delivering our current year plan as well as our medium-term guidance.
Looking forward, the Board will continue to build on the excellent progress made this year in the areas of corporate governance and sustainability, whilst maintaining focus on the Group's strategic priorities, with the business and management team remaining committed to maximising the full potential of our recent acquisitions and delivering long term value for shareholders. Following today's AGM, half of the Directors on the Board will be independent in line with the standards set in the UK Corporate Governance Code.
I would like to thank the staff, management and Board for the huge effort they have put in over the past 12 months, including their dedication and commitment in responding to the challenges of Covid-19, working through the crisis and supporting their national healthcare systems. Finally, I would like to thank our shareholders, executive team and all our teams worldwide for their loyalty, hard work and dedication during 2020."
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The Company is adhering to public health measures prescribed by the Government of Ireland and the Department of Health relating to Covid-19. The Company has a legal obligation to hold this AGM and it will do so under very constrained circumstances. To avoid unnecessary risk to the Company's shareholders, employees and other attendees, the Company recommended that shareholders participate in the AGM by electronic means, including casting their proxy votes electronically and raising any questions in advance of the meeting. A listen only conference call facility has been provided to allow shareholders to listen to the business of the meeting. Please note that this facility will allow shareholders to listen to the business of the AGM only, they will not be able to use this facility to vote, ask questions or table resolutions. All details relating to the AGM are contained in the Company's RNS announcement from 8 April 2021.
For further details contact:
+353 (0) 1 428 7777
Group Director of Corporate Development
+353 (0) 1 679 6363
(Joint Broker, Nominated Adviser and Euronext
RBC Capital Markets (Joint Broker)
+44 (0) 20 7653 4000
Stifel Nicolaus Europe Limited (Joint Corporate Broker)
+44 (0) 20 7710 7600
+353 (0) 1 475 1444 or
(Public Relations Adviser to Uniphar)
+353 87 235 6461
About Uniphar plc
Headquartered in Dublin, Ireland, Uniphar is an international diversified healthcare services business servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions - Commercial & Clinical, Product Access and Supply Chain & Retail. With a workforce of more than 2,600, the Group is active in Ireland, the UK, the Benelux, the Nordics and the US.
The Company's vision is to improve patient access to pharmaco-medical products and treatments by enhancing connectivity between manufacturers and healthcare stakeholders. Uniphar represents a strong combination of scale, growth and profitability.
Commercial & Clinical
In Commercial & Clinical the Group provides sales, marketing & distribution solutions to multinational pharmaceutical and medical device manufacturers on an outsourced basis. Active in Ireland, the UK, Benelux, the Nordics and the US, the Group is growing with its clients to provide pan-European solutions. Uniphar has built a fully integrated multi-channel solution that is supported by our highly experienced and clinically trained teams leveraging our digital technology and insights which allows us to deliver consistently exceptional outcomes for our clients.
n Product Access the Group is growing two distinct service offerings: 1) "On Demand Access", which are pharmacy led solutions for sourcing and supplying unlicensed medicines to meet the needs of both retail and hospital pharmacists; and 2) "Exclusive Access", which are manufacturer led solutions for controlling the release of speciality medicines for specifically approved patient populations in agreed markets. The Group currently delivers product access solutions on a global basis.
Supply Chain & Retail
Uniphar is an established market leader in Ireland with over a 50% market share in the wholesale/hospital market, supported by a network of c.330 owned, franchised and symbol group pharmacies. The business supports the diverse customer base through the provision of strong service levels coupled with innovative commercial initiatives. Supply Chain & Retail is an Irish only business for the Group, although the manufacturer relationships and infrastructure are utilised for the benefit of the growth divisions, Commercial & Clinical and Product Access.