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UDG Healthcare to sell two units to McKesson for $466 million

Reuters

(Reuters) - UDG Healthcare Plc (UDG.L) said it would sell its drug distribution units in Ireland and Northern Ireland and a unit in its commercial services business to U.S. drug wholesaler McKesson Corp (MCK.N) for 407.5 million euros (298.18 million pounds).

The healthcare services provider said it would sell its United Drug supply chain and MASTA businesses to focus on its higher-growth, higher-margin international healthcare services businesses, and would use proceeds from the sale to reduce debt.

The British firm also said Chief Executive Liam FitzGerald would retire in March 2016 and named Chief Operating Officer Brendan McAtamney as new CEO.

(Reporting by Roshni Menon in Bengaluru; Editing by Gopakumar Warrier)