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Aug 27 2019, 06:45 IST/BST
Uniphar is a diversified healthcare services business focused on speciality pharma and medical devices. Structural industry growth, proprietary digital platforms and expansion into new geographies underpin a strong organic growth outlook. There is also meaningful scope for bolt-on M&A, supported by a senior leadership team with deep experience across the healthcare services space. Management aims to double group EBITDA within five years (15% CAGR). We initiate coverage with an ‘Outperform’ rating and a price target of €1.50.