Tuesday 28 February 2017

Ex-UDG boss joins US investment firm

John Mulligan

John Mulligan

Former UDG Healthcare chief Liam FitzGerald
Former UDG Healthcare chief Liam FitzGerald

Former UDG Healthcare chief executive Liam FitzGerald has joined US private investment firm Clayton, Dubilier & Rice as an operating adviser.

He'll be based in the firm's London office and will be responsible for identifying acquisition and investment opportunities.

Clayton, Dubilier & Rice's adviser group works with its own in-house experts to source and evaluate investment possibilities. The advisers are typically engaged on a non-exclusive basis by the firm.

Other advisers working with the group include former executives from companies such as General Electric, Boeing, Bayer and Statoil.

Its advisers also include ex-Tesco chief executive Terry Leahy. He became an adviser in 2011 and is also based in the London office. Former General Electric boss Jack Welch is also an adviser.

Mr FitzGerald was chief executive of UDG Healthcare from 2000 until 2016. He had previously served in other senior roles with the FTSE-250 company.

He oversaw significant expansion at the group. He announced his departure from UDG Healthcare in 2015, as the group agreed to sell its Irish pharmaceutical distribution business to US wholesale and retail giant McKesson for €408m.

Clayton, Dubilier & Rice partner David Novak said that Mr FitzGerald brought "valuable healthcare industry expertise, deep market insights and a broad network, particularly in Europe, where we are enthusiastic about the investment opportunities presented by strong secular trends in the healthcare space".

Irish Independent

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