Wakefield-based fds advises on sale of an Isle of Man pharmaceutical company to global firm Ergomed PLC

Founded by Stuart Colligon in 2008, the Company has grown over the years, expanding its services and clientele, resulting in Panacea being a leading supplier within its industry.

Mr Colligon said: “It was very important to me that we found the right home for Panacea, not just any buyer. In Ergomed and Primevigilance, I am convinced that we have achieved that aim; the fit is good both operationally and culturally.

"Panacea has an incredible team, and being part of a larger organisation will enable them to really thrive and realise their full potential.

“It is not an exaggeration to state that the successful sale of our company would not have been possible without the exceptional services of Poonam Kaur and the wider fds team.”

The acquisition of Panacea will expand Ergomed’s pharmacovigilance business, PrimeVigilance. The firm said the acquisition will complement its strategy to become a leading provider of pharmacovigilance services and enable it to offer cross-selling opportunities.

Additional value will also be added to Panacea by offering significant business development support, expanded geographical coverage and a pool of prospective new customers.

fds Director Services advised on the deal, led by CEO Poonam Kaur, acting on behalf of shareholder Mr Colligon.

Ms Kaur said: “I have thoroughly enjoyed leading this transaction, and I am delighted that we have found Panacea an ideal home with Ergomed.

"The excellent senior management team have made the journey run smoothly and the transaction a joy to be a part of.”

Also acting on behalf of Stuart was Hazel Dawson, Consultant Solicitor at Keystone Law, who provided legal support throughout the transaction.