Uniphar Group Plc (LON: UPR) have announced that they have acquired Nordic based EPS Group and Irish firm M3 Medical.

The total potential cost for EPS Group and M3 medical will be approximately €40 million, and they payment will be spread over four years.

The deal will be financed from the funds raised from the initial public offering in July, and coupled with a combined placing shortly after was valued at €139 million.

On a proforma basis, for 2019, these acquisitions in aggregate are expected to deliver revenue of about €22 million.

Both the EPS Group and M3 Medical will be integrated into the Commercial & Clinical Medtech division of Uniphar.

Uniphar Chief Executive Ger Rabbette said: “These acquisitions are a key strategic step in Uniphar’s plan to offer its pharmaco-medical clients a pan-European service by adding new countries and new agencies to our roster.

“With this development, we add to our already considerable expertise in the area of interventional technologies in key therapeutic areas, and Uniphar advances its ambition to become a leading independent distributor of medical devices throughout Europe. We expect to invest in these platforms in the short term as part of growing our unique and compelling proposition to emerging and specialist medical device manufacturers seeking a commercial partnership across their European business.”

“It gives us the opportunity to develop our existing relationships and to extend these across new geographies through Uniphar’s growing European offering,” said Killian O’Dowd, managing director of M3 Medical. “Uniphar’s scale, digital solutions, regulatory expertise and impressive ambition in Europe will be a great platform for M3 Medical to grow and flourish in the years to come.”

These seem like two impressive acquisitions for Uniphar, and reinforces the firms plans to diversify and grow within the next few years.

In the pharmaceuticals and medical industry, there have been updates. Global competitors such as Pfizer (NYSE: PFE) smashed market expectations in their third quarter update.Additionally, GlaxoSmithKine (LON: GSK) another titan in the industry saw their shares surge after strong profit gains.

Whilst the big guns are dominating the pharmaceuticals industry, firms such as RA Pharma (NASDAQ: RARX) and UCB (EBR: UCB) have merged to spur product development and innovation.