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Biopharma giant Ergomed acquires ADAMAS for £25.6m

By Stephen Emerson
9 February 2022

Biopharma firm Ergomed has acquired consultancy outfit ADAMAS as it looks to broaden its service base.

Ergomed announced today that it had completed the acquisition of the Crowthorne-based company, which also has offices in the US and India,  for a total of £25.6 million which takes in the company's market value of  £24.2m and cash acquired of £1.4 million.

Guildford-based Ergomed provide specialised services to the pharmaceutical industry and say the purchase will enhance the company's global footprint, broaden the services that it provides to clients and will have an immediate gradual increase on company earnings.

ADAMAS  delivers  quality assurance services to the pharmaceutical industry and also audit clinical trials  and drug safety systems.

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In its financial year ended 31 December 2021, ADAMAS recorded (unaudited) total revenues of £8.5 million, up 31% over 2020 total revenues, with adjusted EBITDA of £1.8 million.

Dr Miroslav Reljanović, Executive Chairman of Ergomed, said : "This value-enhancing acquisition aligns with our disciplined M&A strategy, strengthening our position as a focussed premium pharmaceutical services business, whilst further building our Group's scale in the strategically important US, Europe and APAC regions. With this deal we are addressing the pharmaceutical industry's ever-growing need for best practice quality assurance due to the increasing complexity of drug development, pharmacovigilance and manufacturing processes and associated regulatory requirements. We look forward to working with Ian and the ADAMAS management team as we invest in and support this business to deliver a broader service offering to clients."

ADAMAS will continue to operate as an independent consulting business following the acquisition with the senior executive team continuing in their current positions.

Ian Montague, Chief Executive Officer of ADAMAS, said : "Ergomed is a highly regarded business that shares our commitment to delivering regulatory compliance as well as the highest quality services to the global healthcare industry. Joining the Ergomed Group provides us with an even stronger platform and increased investment from which to grow our customer base, develop and scale up our offering and continue to deliver gold standard quality assurance services."

The Ergomed group employs over 1,200 people and operates out of 24 offices around the world, providing its services in around 100 countries globally.

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