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Permira to pay £703m for UK pharma services firm Ergomed

European private equity firm Permira has agreed a deal to acquire British biopharmaceutical services company Ergomed, a provider of clinical research and trial management services, for around £703.1m ($886.40m), according to a report by Reuters.

Shares in the London-listed firm jumped by up to 28% to an eight-month high of 1,342 pence when news of the acquisition broke on Monday morning.

Permira’s cash offer of 1,350 pence per share, which has the backing of the company’s board, represents a premium of about 28% to Ergomed’s last closing price.

The proposed Ergomed acquisition, is the latest in a number of healthcare sector take private deals so far this year, including veterinary drugmaker Dechra’s G£4.46 bn acquisition by EQT in June and life sciences software firm Instem’s £203m deal with Archimed last week.

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