FLINT — Diplomat Pharmacy Inc. (NYSE: DPLO) announced it had completed its acquisition of WRB Communications Inc., a health care service center company based in Chantilly, Va.
WRB specializes in relationship management programs for pharmaceutical manufacturers and health care service organizations.
Under the terms of the agreement, Diplomat is paying WRB $24.5 million cash and $4.5 million of Diplomat common stock. Under the terms of a two-year contingent earnout, WRB can earn an additional payout of up to $1 million based upon achievement of earnings-based targets in the 12-month periods ending May 31, 2018, and May 31, 2019. In 2016, WRB generated $15 million in revenue and $2.2 million in adjusted earnings before interest, taxes, depreciation and amortization.