Spectrum advises the shareholders on the disposal of MacuVision Europe Limited
Spectrum Corporate Finance has advised the shareholders of MacuVision Europe Limited on the successful disposal to Alliance Pharma plc. Solihull based MacuVision sells MacuShield, an eye care treatment designed to be taken by sufferers of dry age-related macular degeneration and other eye conditions.
Around 75% of the MacuShield sales are generated in the UK, with the remainder being sales to international distributors, mainly in Europe. MacuShield is a once-a-day capsule that contains meso-zeaxanthin, lutein and zeaxanthin - three carotenoids, or pigments. These three carotenoids are naturally present in the eye, where together they are known as macular pigment. Macular pigment helps to protect the eye by neutralising free radicals and absorbing blue light, which can damage the retina. With age, and particularly in dry age-related macular degeneration and other eye conditions, the level of macular pigment is reduced creating the need for a dietary supplement to boost the level of pigment in the retina.
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, has acquired MacuVision Europe Limited (“MacuVision”) through its wholly owned subsidiary Alliance Pharmaceuticals Limited (“Alliance Pharma”) for initial consideration of £5.5 million and deferred contingent consideration of up to £6.0 million.
Key marketing staff will transfer to Alliance Pharma from MacuVision and the founders, Trevor and Anne McCormack, will continue their involvement in the business for twelve months.
“Spectrum successfully helped us sell our business. The process was so much easier with the help of Simon and Bilal. They went beyond the call of duty and helped in every step to fulfil our dreams. Selling a business is not easy but with the right people at Spectrum, the whole process was less stressful as they had our interests at heart and the fundamental knowledge to advise us to get the best deal that was right for us.”Trevor and Anne McCormack, MacuVision Europe Limited