Naas Based Business Accuscience Has Been Sold For €60M

Tuesday, 24 May 2022 09:27

By Caoimhe Harney

Based in the M7 Business Park.

Accuscience, based in the M7 Business Park, Naas, a distributor of life sciences and medtech equipment, has been bought by British rival Diploma for €60 million.

According to The Times Ireland online, The management team will remain “indefinitely” after the deal, which is expected to contribute £35 million pounds sterling in turnover to the London-listed multinational.

Mary Harney, a former tanaiste, chairs the board at Accuscience’s ex-owner Pharmed, a healthcare services provider.

Johnny Thomson, Diploma’s chief executive, said the purchase would increase the group’s exposure to high-growth diagnostics and add scale to its life sciences business. The purchase price represents a multiple of 9.5 times earnings before interest and tax.

Accuscience reported turnover of €16.9 million and profit before tax of nearly €1.1 million in 2019 and has 56 staff.

The company sells laboratory equipment, surgical products and blood transfusion equipment.

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