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Synergy Health buys German sterilisation company

Specialist outsourced support services provider Synergy Health plc has acquired German sterilisation company GSP for an enterprise value of €9.5m.

It said the business, which had revenue last year of €5.5m, would enable Synergy to add electron beam processing to its service offering in mainland Europe.

The acquisition will complement plans to expand sterilisation capacity in Venlo, Netherlands, as well as building a new gamma facility in Marcoule, France.

CEO Richard Steeves said, 'We recently signalled our intention to increase capacity and enter new European markets via both organic growth and bolt-on acquisitions. This acquisition builds on our position in Germany and opens up further opportunities in Eastern Europe.

'Germany could become a key market for Synergy and we are actively bidding for a number of decontamination contracts there.'

The shares were down 2p at 823p.

Story provided by StockMarketWire.com

13/12/2010