Specialized in nuclear and pain medicine compounding
Regulated information
Waregem (Belgium)/Rotterdam (Netherlands)1, 11 May 2015
Fagron is pleased to announce that it has signed an agreement to acquire AnazaoHealth, a leading sterile compounding pharmacy in the United States specialized in nuclear, pain and intrathecal compounding. The products of AnazaoHealth are serviced to hospitals and specialized surgery clinics and therefore not impacted by reimbursement policies. For 2015, AnazaoHealth expects a turnover of approximately US$ 30 million with an EBITDA margin equal to the average of the Fagron Group. Fagron pays a multiple of 6 times EBITDA with 40% of the total consideration paid in Fagron shares valued at a minimum of € 40 per share; 20% of the total price is earn out based on the performance in 2015, payable in the first quarter of 2016. This acquisition is expected to be closed in the second quarter of 2015.
AnazaoHealth has created innovative patient specific compounded medication, serving the nuclear medicine and pain management pharmacy markets, as well as providing drugs used in clinical trials. AnazaoHealth is headquartered in Florida with an additional facility in Nevada. The facility in Nevada is a cGMP compliant and FDA registered 503B outsourcing facility.
With this acquisition Fagron further strengthens its leading market position in the United States and underlines its continuous focus on specialized compounding to fulfil the growing need of hospitals to outsource nuclear, sterile and aseptic compounding to one of Fagron’s state-of-the-art compounding facilities. These facilities are fully compliant with the increasingly more stringent GMP and FDA standards.
Ger van Jeveren, CEO of Fagron: “We are delighted to welcome AnazaoHealth to the Fagron Group. This acquisition plays an essential role in our strategy to enforce our global market leadership in pharmaceutical compounding and to provide innovative solutions to meet patients’ specific needs. With AnazaoHealth we are also able to offer tailor-made nuclear compounding services. Due to the excellent track record and the quality of the organization of both AnazaoHealth and Fagron, we expect a quick and smooth integration.”
Jacob J. Beckel, Chairman and CEO of AnazaoHealth: “I am looking forward to combine forces with the Fagron Group. Fagron’s global and rapidly expanding presence offers great potential to expand our business. Our employees will enjoy opportunities for further development in an international environment. I look forward to the opportunity of contributing to the future growth and expansion of both AnazaoHealth and the Fagron Group.”
1 This press release was sent out by Fagron NV and Fagron BV.
In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.
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