Guildford-based pharma firm Ergomed sees revenue grow to £145.3 million in 2022

Published by

Simon Toft

Guildford-based Ergomed, which provides specialised services to the pharmaceutical industry, saw revenue grow to £145.3 million during 2022.

This was an increase of 22.5 per cent over 2021, while the order book grew by 23.1 per cent last year to an expected total of around £295 million.

The company says this highlights its growing presence in its key markets, as well as the resilience of the sectors in which it operates, and provides strong visibility of revenue for 2023 and later years.

Both Ergomed's pharmacovigilance (PV) and clinical research organisation (CRO) businesses, as well as the ADAMAS business it acquired in February 2022, continued to trade strongly through to the year end.

Dr Miroslav Reljanović, Executive Chairman of Ergomed, said: "Ergomed has delivered another year of operational and financial excellence, with strong revenue growth and adjusted EBITDA in line with market expectations.

"The successful integration of ADAMAS has further endorsed our acquisition strategy and our continued significant organic growth demonstrates our ability to excel in meeting the needs of our customers.

"With a strengthened Board and senior executive team and robust order book, Ergomed is firmly positioned for further growth both organically and through M&A.

"We are confident in our future as a leading global provider of specialist pharmaceutical services underpinned by market-leading technology and look forward enthusiastically to the coming year."

Michael Spiteri transitioned to the role of Chief Transformation and Technology Officer in November, having formerly been a Non-Executive Director.

Michael will lead the implementation of new market-leading technology solutions, both to enhance Ergomed's overall services to clients as well as to increase efficiencies in the delivery of those services.

The Board also appointed John Dawson CBE and Anne Whitaker as Non-Executive Directors in March and June 2022 respectively.

John, formerly Chief Executive Officer of Oxford Biomedica plc, was appointed as Senior Independent Director in December 2022.

Both John and Anne have extensive life sciences industry experience, including UK-listed healthcare and pharmaceutical services companies.

Chief Financial Officer Richard Barfield retires on February 3, 2023, following which he will cease to be a Director and will be succeeded as CFO by Jonathan Curtain.

The company also intends to appoint Jonathan as an Executive Director of the Board.

He joined Ergomed in November 2022, bringing with him extensive life sciences industry experience having spent 13 years with ICON plc, a leading global CRO business listed on NASDAQ with a market capitalisation of $19 billion.

Simon Toft