SETON HEALTHCARE ACQUIRES CUPAL
The UK medical products and sports equipment company Seton Health-care has purchased the Blackburn-based pharmaceutical group Cupal for the sum of L 8.2 million ($12.4 million). Seton has also drawn up a licensing and manufacturing agreement for the Betadine antispectics line from Holland's Ladenburg.
The company made its debut on the UK stock market in 1990 and since that time has made six acquisitions, giving the company a total of eight new brands. These latest deals continue Seton's strategy of building a portfolio of enduring health care brands, according to company chairman Norman Stoller. Among the brands acquired with Cupal is an over-the-counter ibuprofen analgesic, Cuprofen.
Seton has also announced a 43% increase in pretax profits to L 2.1 million in the first half of the year. Turnover was reported to be L 17.8 million, up 35%. The company has also made a L 13.1 million rights issue. It will offer one new share priced at 240 pence for every four held.
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