Exel purchases Unidock of Brazil

LONDON (AFX) – Exel PLC said it has bought Unidock’s, a pharmaceutical logistics provider in Brazil. Exel will be acquiring assets worth 1.5 mln stg (as at Dec 31, 2002) and the consideration will be settled in cash from existing resources. The group expects the acquisition to be earnings enhancing, after goodwill. Under the deal Exel will be acquiring all of Unidock’s operations in Brazil which provide shared-user warehousing and distribution to the majority of the pharmaceutical companies that currently outsource logistics in the region. Graham Inglis, President, Healthcare Worldwide at Exel said:” “Brazil is the fifth largest country in the world and has a healthcare market with tremendous growth potential. “The acquisition of Unidock’s extends our healthcare capabilities, allowing us to provide Exel’s current customers with services in a new geography, and Unidock’s customers with a broader range of logistics services.” No further financial information was disclosed.