Dublin-listed healthcare services group United Drug is to sell its stake in its UK homecare venture to partner Medco Health Solutions.

The value of the deal, which will see Medco take over United Drug's 50 per cent stake in the venture it helped set up in 2009, was not disclosed. The deal is expected to be completed next month.

The partnership focused on the pharmacy homecare market in the UK, aimed at patients with chronic and complex conditions.

“We have enjoyed an excellent partnership with Medco over the last two years and the business has generated significant momentum” said United Drug's chief executive Liam FitzGerald said.

The company said it would continue to work with Medco to provide clinical and logistics services in the UK.

The UK business will be integrated into Medco International and will offer a range of services from prescription drug dispensing and home delivery, to home nursing support.

"In the two years we have worked with United Drug, we have confirmed the need and potential to drive specialty pharmacy homecare as a means to improve patient experience and outcomes, while relieving the NHS of a significant financial burden" said John Driscoll, president of new markets with Medco Health Solutions.

“United Drug has been an important partner to us and we look forward to their continued support as we build out our pharmacy homecare business.”