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Quantum Pharma disposal nets £1.75m for the pharmaceutical firm

North East pharmaceutical company Quantum Pharma has announced it has disposed of its homecare dispensary and delivery business as it continues to reposition its focus on its specials and niches pharmaceuticals divisions.

The Burnopfield-based firm has sold off its Biodose Services business to HealthNet Homecare Limited for an initial cash consideration of £1.75m, with a further £200k payable upon the future utilisation of tax losses of the dispensary business.

It also means the Medication Adherence arm of the business, which Biodose operated under, will cease to exist with Quantum’s Protomed business shifted to its Specials division.

In what is being described as a ‘strategic disposal’, Quantum said the disposal would help to improve the group’s balance sheet thanks to a reduction in debt. Biodose brought in revenues of £22m last year, but still recorded an adjusted EBITDA loss of £0.1m.

Chris Rigg, Chief Executive Officer of Quantum, commented: “The sale of Biodose Services positions Quantum as a simplified and focussed pharma business with a higher quality of earnings.

“It is particularly pleasing that we have been able to demonstrate a quick path to profitability for Biodose Services and exit it to a buyer who can bring greater emphasis and better synergies to that business.”

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