Business
Acquisition of BBI Healthcare Limited
Acquisition of BBI Healthcare Limited.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9541A\n Venture Life Group PLC\n 07 June 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.\n \n \n \n \n \n For immediate release\n \n \n \n \n \n Venture Life Group PLC\n \n \n (\"VLG\" or the \"Company\")\n \n \n \n \n \n Acquisition of BBI Healthcare Limited\n \n \n \n \n \n \n \n \n Venture Life Group PLC \n (AIM: VLG),\n a leader in developing, manufacturing and commercialising products for the international self-care market, announces that is has acquired BBI Healthcare Limited (\"BBIH\"), a global market leading Women's Health and Energy Management/Diabetes company, for a total consideration of up to £36.0m. The acquisition of BBIH, which is expected to be immediately earnings enhancing, is from \n BBI Diagnostics Group Limited (the \"Seller\"), a company ultimately majority owned by \n Exponent Private Equity.\n \n \n \n \n \n The Board consider the acquisition of BBIH is one of high strategic value for VLG. BBIH joins the VLG Group as a growing and profitable business in its own right as well as presenting the opportunity for meaningful cost and revenue synergies to be realised. Furthermore, and of significant strategic value to VLG, the acquisition of BBIH establishes VLG in two new high interest areas of Women's Health and Diabetes/Energy Management. \n \n \n \n \n \n BBIH and its subsidiaries, headquartered in Crumlin, South Wales, has a manufacturing facility in Gnesta, Sweden, employs 21 people across the UK and Sweden and benefits from a strong management team, the majority of whom will transition to VLG as part of the acquisition.\n \n \n \n \n \n BBIH produces and markets products within two key consumer healthcare segments of Women's Health and Diabetes/Energy Management. In Women's Health, BBIH has the Balance Activ\n \n â\n \n \n \n \n brand for the treatment of bacterial vaginosis (\"BV\") and also sells this product under customer brand names through a number of international partners. In Diabetes/Energy Management BBIH has two brands of glucose supplements: Glucogel\n \n â\n \n...