Siegfried acquires Alliance Medical Products
Siegfried Holding AG has acquired Alliance Medical Products, Inc., Irvine, California. This acquisition gives Siegfried an entry into the custom market for sterile filling services.
Complementing the company’s technology base with competency in sterile filling services is a strategic goal for the Siegfried Group. By taking over 100% of the shares of privately-held Alliance Medical Products (AMP), the Swiss pharmaceutical supplier makes a substantial step toward additional profitable growth. The purchase price of $58 million is to be paid immediately, with a contingent earn-out to be paid if defined profitability goals have been met for the fiscal year ended December 31, 2013. The transaction is expected to be accretive already in 2012.
Founded in 2001, AMP is based in Irvine, California and provides sterile filling services for medications. The company achieved revenues of $20 million in 2011 with approximately 100 employees.
The acquisition provides various synergies for both companies, especially in the areas of technology and marketing. Dr. Rudolf Hanko, Siegfried CEO, explains: “Siegfried is one of the few companies with capabilities in both pharmaceutical and chemical manufacturing. Our acquisition of AMP expands this exceptional offer into the sterile filling market, a particularly attractive segment. Integrating AMP into the Siegfried Group is an asset for both companies.”
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