trending Market Intelligence /marketintelligence/en/news-insights/trending/2mYRpEFmNNl9gBv_1KMrWw2 content esgSubNav
In This List

Ergomed buys US pharmacovigilance services provider for $10M

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

University Essentials: From Crisis to Resilience – Navigating Sustainable Recovery

Blog

EV impact; vaccines to boost job market; coal supply constraints

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection


Ergomed buys US pharmacovigilance services provider for $10M

London-listed Ergomed PLC said it acquired U.S.-based pharmacovigilance services provider Ashfield Pharmacovigilance Inc. for $10 million.

Ergomed bought Ashfield from UDG Healthcare PLC, and plans to combine it with its PrimeVigilance division, which offers pharmacovigilance services that are meant to detect and prevent adverse effects or any other possible drug-related problems during the development of a medicine.

Ashfield generated $11.6 million in revenues during the financial year ended Sept. 30, 2019, and recorded an adjusted EBITDA of $900,000. The business had net assets of $2.8 million. Ashfield Pharmacovigilance also has a backlog of sales totaling $9.8 million.

Ergomed said it would fund the purchase using existing cash resources and that it expects to acquisition to contribute toward its 2020 earnings.