Irish regulator clears DCC takeover of Medisource

Ireland-based sales, marketing, distribution and business support services group DCC announced on Thursday that, following the receipt of competition clearance from the Competition and Consumer Protection Commission, DCC Healthcare has completed the acquisition of Medisource Ireland.

The FTSE 100 company had announced the planned acquisition in its annual results in November 2016, for an initial enterprise value of €32m.

At the time, it described Medisource as a specialist in the procurement and sale of exempt medicinal products - pharmaceutical products which are imported into a market with the authorisation of the relevant regulatory authority in order to meet requirements of specific patients where no suitable licensed product is available in that market.

“The products are typically licensed in another jurisdiction,” the board said.

“Medisource has a market leadership position in EMPs in Ireland based on excellent customer service and a strong network of international suppliers.”

The board said the acquisition complements DCC Vital's current pharma product offering, strengthens its access to the hospital and retail pharmacy channel and will provide further insight into potential pharma product development opportunities.

“DCC Healthcare expects to generate a return on its investment in Medisource in line with the divisional return on capital employed in its first full year of ownership.”