Healthcare services group United Drug has acquired UK pharmaceutical conference services company Procon Conferences for £4.2m sterling.
The North Yorkshire-based company provides full corporate event management services targeted specifically at the pharmaceutical and healthcare sector. It employs 28 people, all of whom will stay on the business.
The deal is costing United Drug £4.2m - payable on completion - plus an additional £1.2m payable if agreed targets are reached over the next 12 months.
'Procon will form an important part of our Contract Sales and Consultancy Outsourcing division and help us broaden the range of services we provide to our customers,' commented United Drug's CEO Liam Fitzgerald.
Separately, United Drug today announced the retirement of Dr Dermot Egan as a non-executive director after 15 years at the company.