Biopharma giant Ergomed acquires ADAMAS for £25.6m

Published by

Stephen Emerson

Angle are based at Surrey Research Park

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.

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.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.