IPS ... close gaps on industry leaders

RSM successfully completed financial due diligence in respect of the secondary buy out of Integrated Pharmaceutical Services led by Ashok Patel, the original founder of the business.

The client

Vertical Pharma Resources Ltd, trading as Integrated Pharmaceutical Services (IPS Specials) is a long established supplier of unlicensed medicines or specials to the pharmacy market. The business was backed by Elysian who invested in 2010 and has developed from a small family owned company to a business with a scalable platform including a new laboratory facility which has increased capacity five times to develop it further.

The Specials market has undergone significant change over the last four years with the introduction of a pricing tariff by the Department of Health and pressure to reduce prescriptions by the PCTs and their successors the CCGs. This has reduced the value of the market by c30 per cent but has also increased transparency in the market which, long term, benefits quality suppliers such as IPS.

What RSM did

RSM supported Integrated Pharmaceutical Services by providing financial and tax due diligence to the management team, incoming equity investors and the funders.

Testimonial

' "Hands on” support from senior team. Delivered to tight timetable to meet deal requirements.'

David Jones-Owen, Finance Director, IPS Specials

Transaction team

Rebecca Guerin, Partner, T: +44 (0) 7932 668 919

Chris Rees, Director, T: +44 (0) 7972 004 988