Siegfried Holding AG has acquired Alliance Medical Products, Inc. (AMP) for $58 million in cash, giving Siegfried entry into the custom market for sterile filling services. AMP is also eligible to receive an earn-out consideration subject to AMP profitability goals for the fiscal year ended December 31, 2013.
AMP, based in Irvine, CA provides sterile filling services for medications and achieved revenues of $20 million in 2011 with approximately 100 employees. Siegfried will retain AMP’s management team.
Dr. Rudolf Hanko, Siegfried chief executive officer, said, “Siegfried is one of the few companies with capabilities in both pharmaceutical and chemical manufacturing. Our acquisition of AMP expands our exceptional CMO platform into the sterile filling market, a particularly attractive segment. Integrating AMP into the Siegfried Group is an asset for both companies.”
Juan Valdes, AMP chief executive officer, added, “Our association with Siegfried opens exciting growth and expansion possibilities for AMP. The combination of sterile filling services with the production of active pharmaceutical ingredients is unique in the custom manufacturing market.”