DCC snaps up medical supplier Wörner for €80m
FTSE 100 services firm DCC has this morning bought German medical supplier Wörner for around €80m (£68.5m).
The firm supplies equipment such as PPE, COVID antibody tests, injectables, wound care to around 20,000 customers in Germany in Switzerland.
It recorded revenue of approximately €70m in 2020.
Irish firm DCC said that the move would provide it with a platform for expanding into the European healthcare market.
Chief executive Donal Murphy said: “The acquisition of Wörner represents a significant scale-up of our primary care business and extends DCC Vital’s sales and marketing activities into Continental Europe for the first time.
“DCC Vital is a key growth platform for DCC and has delivered strong organic growth in recent years in the sales and marketing of medical products across the primary care, community, and hospital sectors.
“DCC Vital will continue to build its business across Europe in the coming years and Wörner
will provide an excellent platform for further acquisition activity, both in Germany, Europe’s largest healthcare market, and across the DACH region.”
Subject to regulatory approval, the deal is expected to complete next month.
According to analysts at Goodbody, the purchase takes DCC’s acquisition outlay for the coming year to around £300m.
Shares in the firm rose 1.4 per cent this morning.