Ergomed PLC's (LON:ERGO) Executive Chairman, Dr Miroslav Reljanović talks to Proactive London's Katie Pilbeam about their 'very exciting and highly attractive' acquisition of MedSource in a deal worth up to US$25mln.
MedSource is a US-based specialist oncology and rare disease contract research specialist, which sees the UK group expand its presence in the strategically important US market, which will be immediately earnings enhancing.
Reljanović calls the deal the 'perfect fit' with the company paying an immediate US$16.2mln in cash and US$1.8mln in paper, followed by up to US$7mln (payable 90% in cash) dependent on 2021 results.