Bidco to acquire biopharmaceutical business Ergomed | Medexec
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Eden AcquisitionCo (Bidco) has signed an agreement to acquire British biopharmaceutical services company Ergomed in a deal valued at around £703.1m ($884.79m).

The newly incorporated company, Bidco, is controlled and indirectly wholly owned by the Permira funds advised by Permira Advisers.

The acquisition is due to be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act (Scheme).

As per the acquisition, each scheme shareholder will receive £13.50 in cash for each share of Ergomed.

Ergomed is a differentiated platform engaged in the outsourced pharma services sector with a strong track record in the contract research organisation (CRO) and pharmacovigilance (PV) spaces.

Through this acquisition, Permira will provide support to Ergomed for its next phase of growth by investing in the commercial expansion and technological transformation of the business.

This article was originally published by Pharmaceutical Technology and can be viewed here