SOURCE: Consilient Health

July 26, 2005 08:26 ET

Consilient Health Enters the UK and Dutch Generics Market With a Long-Term Vision

Consilient Health Poised for Long-Term Growth After Receiving Major Endorsement From Leading Irish Investment Firm

DUBLIN, IRELAND -- (MARKET WIRE) -- July 26, 2005 -- Consilient Health, a dynamic newcomer on the European Generics scene, is expanding to two new markets. Following the recent launch of Ofloxacin in Denmark in May, Consilient Health has just entered the UK and the Dutch market by launching Lamotrigine to wholesalers today.

This is only the beginning for Consilient Health. Douglas B. Andrews, CEO and founder, has an ambitious plan for the company. "We are very excited about the future of the generics market in Europe, and believe that Consilient Health is ideally placed to serve a growing market need for affordable healthcare. The company has entered into a large number of long-term supply agreements with manufacturers world wide to be able to assure a steady and cost-effective supply. Our future plans include several new launches across Europe in the coming months."

This vision has just been boosted by a crucial backing by a leading venture capitalist, Shane Reihill. Mr. Reihill, together with private co-investors, has invested over 7 million Euros in Consilient Health through his private investment vehicle, BHR Ltd. This endorsement gives Consilient Health a solid financial basis to grow a long-term successful business in Europe. "We are backing an experienced management team with an innovative approach to providing value and service to the European generics market over the long term," says Luke Crosbie of BHR. The group has extensive expertise in backing successful start-ups through its involvement in Trinity Venture Capital (www.tvc.com) as well as Hibernia Capital Partners (www.hcp.ie) which has been involved in the launch of a number of cutting edge technology start-ups in recent years.

"This investment is the best way for us to show that we have serious intentions and that we are in this game for the long run," says Douglas Andrews. "We are determined to make a difference in the generics market. Consilient Health is firmly committed to bring fresh ideas to the industry to help make healthcare more affordable across Europe. We plan to bring products to wholesalers and pharmacies in the most effective way using the best possible channels to keep the delivery on schedule and the costs under control."

And with Shane Reihill on board, it has just got the financial muscle to make this happen.

Consilient Health Ltd:

Consilient Health, Ltd. markets and distributes generic pharmaceuticals throughout Europe utilizing a large network of manufacturers and business partners. Consilient Health strives to make healthcare affordable across Europe, is reliable and a committed and trustworthy generic pharmaceutical company. Decades of managerial experience in the drug and healthcare industries coupled with an innovative business model results in significant cost savings, which in turn are shared with business partners and patients. Consilient Health wants to help improve the way generic drugs are distributed and marketed throughout Europe. www.consilienthealth.com

BHR Ltd:

BHR Ltd. is the private investment company of Shane Reihill, the chairman and founder of Trinity Venture Capital and Hibernia Capital Partners Limited of Ireland. BHR uses its resources and talent to empower and energetically strengthen businesses. Reihill is chairman of technology company Norkom Technologies Limited and was recently involved in the acquisition of Mean Fiddler Music Group plc. He is a former joint CEO and Finance Director of Tedcastle Holdings, and worked at Dillon Read Investment Bank in New York. Reihill earned a MBA from Columbia Business School.

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