Information  X 
Enter a valid email address

Uniphar PLC (UPR)


Tuesday 20 July, 2021

Uniphar PLC

Acquisition of CoRRect Medical GmbH

RNS Number : 7170F
Uniphar PLC
20 July 2021

Uniphar plc acquisition of CoRRect Medical GmbH



Uniphar plc today announces the acquisition of CoRRect Medical GmbH


Dublin, London | 20 July 2021: Uniphar plc ("Uniphar" or the "Group") today announces the acquisition of CoRRect Medical GmbH ("CoRRect Medical").


CoRRect Medical is a Germany-headquartered company that specialise in the commercialisation and distribution of medical device products in the interventional cardiology sector across Germany & Switzerland.

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.

CoRRect Medical will accelerate Uniphar's organic entry into the German market initiated earlier this year. Germany represents the largest MedTech market in Europe (circa 25% of European Market), with CoRRect Medical focused on some of the fastest growing areas of interventional cardiology, including structural heart.

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.


Commenting on today's announcement

Ger Rabbette, CEO of Uniphar said:

"The acquisition of CoRRect Medical accelerates our entry into Germany, the largest MedTech market in Europe, and 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."


Michael Braun, Managing Director of CoRRect Medical said:

"Being part of the broader Uniphar European offering will allow CoRRect Medical to continue to grow and deliver for our partners in the interventional cardiology space as well as unearth new opportunities together. This represents the beginning of an exciting new chapter for CoRRect Medical, our growing team of eleven high performing individuals and our partners".




For further details contact:



+353 (0) 1 428 7777



Brian O'Shaughnessy


Group Director of Corporate Development

[email protected]






+353 (0) 1 679 6363

(Joint Broker, Nominated Adviser and Euronext

Growth Adviser)




Barry Murphy


Niall Gilchrist




RBC Capital Markets (Joint Broker)

+44 (0) 20 7653 4000



Jonathan Hardy


Jamil Miah

Priyal Soni



Stifel Nicolaus Europe Limited (Joint Broker)

+44 (0) 20 7710 7600



Matt Blawat


Ben Maddison


Francis North





+353 (0) 1 475 1444 or

(Public Relations Adviser to Uniphar)

+353 87 235 6461



Iarla Mongey










About Uniphar plc  


Headquartered in Dublin, Ireland, Uniphar is an international diversified healthcare services business servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions - Commercial & Clinical, Product Access and Supply Chain & Retail. With a workforce of more than 3,200, the Group is active in Ireland, the UK, the Benelux, the Nordics, Germany and the US.


The Company's vision is to improve patient access to pharmaco-medical products and treatments by enhancing connectivity between manufacturers and healthcare stakeholders. Uniphar represents a strong combination of scale, growth and profitability.


Commercial & Clinical

In Commercial & Clinical the Group provides sales, marketing & distribution solutions to multinational pharmaceutical and medical device manufacturers on an outsourced basis. Active in Ireland, the UK, Benelux, the Nordics, Germany and the US, the Group is growing with its clients to provide pan-European solutions. Uniphar has built a fully integrated multi-channel solution that is supported by our highly experienced and clinically trained teams leveraging our digital technology and insights which allows us to deliver consistently exceptional outcomes for our clients.


Product Access

In Product Access the Group is growing two distinct service offerings: 1) "On Demand Access", which are pharmacy led solutions for sourcing and supplying unlicensed medicines to meet the needs of both retail and hospital pharmacists; and 2) "Exclusive Access", which are manufacturer led solutions for controlling the release of speciality medicines for specifically approved patient populations in agreed markets. The Group currently delivers product access solutions on a global basis.


Supply Chain & Retail

Uniphar is an established market leader in Ireland with over a 50% market share in the wholesale/hospital market, supported by a network of c.360 owned, franchised and symbol group pharmacies. The business supports the diverse customer base through the provision of strong service levels coupled with innovative commercial initiatives. Supply Chain & Retail is an Irish only business for the Group, although the manufacturer relationships and infrastructure are utilised for the benefit of the growth divisions, Commercial & Clinical and Product Access.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

a d v e r t i s e m e n t