Healthcare services group Uniphar has acquired German headquartered company CoRRect Medical.
CoRRect Medical specialises in the commercialisation and distribution of medical device products in the interventional cardiology sector across Germany and Switzerland.
Uniphar said the acquisition represents a "key strategic milestone" for the Group, as it continues to build out its pan-European offering, focusing on high value specialty therapeutic areas.
The acquisition is forecast to deliver a return on capital employed to the Group in line with Uniphar’s target rate of 12%-15% within three years.
Ger Rabbette, CEO of Uniphar said the acquisition of CoRRect Medical accelerates their entry into Germany, the largest MedTech market in Europe.
"It underpins our focus on developing a truly pan-European offering for our partners.
"CoRRect Medical’s strong relationships with German and Swiss physicians and hospitals,combined with Uniphar’s expertise and deep manufacturer relationships, will provide a unique offering for MedTech customers seeking to commercialise across Europe," he said.
Michael Braun, Managing Director of CoRRect Medical said being part of the broader Uniphar European offering will allow CoRRect Medical to continue to grow.
"This represents the beginning of an exciting new chapter for CoRRect Medical, our growing team of eleven high performing individuals and our partners," he said.
