|Real-time - 01/19 11:20:18 am|
Uniphar plc acquired CoRRect Medical GmbH for reported €25 million.07/20/2021 | 12:00am
Uniphar plc (ISE:UPR) acquired CoRRect Medical GmbH for reported €25 million on July 19, 2021. The purchase price includes an upfront payment plus contingent consideration payable upon achievement of EBITDA based performance targets. The existing CoRRect Medical team, including Managing Director Michael Braun, recognise the enhanced opportunity to grow the business as part of the Uniphar Group and remain fully engaged as a core part of the business going forward. 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. Tobias Jäger, Philip Schwarz van Berk and Nico Fischer of POELLATH advised the shareholders of CoRRect Medical GmbH on the sale to Uniphar Europe Limited. Uniphar plc (ISE:UPR) completed the acquisition of CoRRect Medical GmbH on July 19, 2021. Andreas Lohbeck, Heiko Wiechers, Martin Mohr, Maximilian Koschker, Rolf Hempel, Martin Cholewa, Roland Wiring, Winfried Schnepp, Eva Margareta Wolff, Birgit Wagner, Tagrid Chahrour, Anke Clippingdale and Steven Washington of CMS Germany acted as legal advisors to Uniphar plc. CMS Germany also acted as due diligence provider to Uniphar Plc.
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