Canada’s Concordia Healthcare Corp said Tuesday that it agreed to purchase Amdipharm Mercury a drug maker from Cinven a private equity company based in Europe in a deal valuing the company at nearly $3.5 billion, which includes debt.

The deal will expand the geographic footprint of Concordia to over 100 countries and will give it access to over 190 niche and complementary pharmaceutical products, said Concordia.

The acquisition is a big milestone and one that marks Concordia strategic turning point, which gives it the platform to take the business to another higher level, said Mark Thompson the Chairman and CEO at Concordia during a prepared news release.

The combination of high complementary yet businesses that are geographically diverse is truly one that is transformational.

It will position uniquely the new company as an international, leading pharmaceutical with extensive reach geographically; an attractive and diversified portfolio of products and a business model that is asset light that will allow the company to focus on investments as well as resources to further grow the business.

This transaction is expected to be closed by the fourth quarter of this year.

Amdipharm Mercury is based in London and was created through the merger of Mercury Pharma Group and Amidpharm back in 2013. Cinven had acquired the two back in 2012 and merged them later.

The pharmaceutical manufacturers as well as sells a portfolio that is mainly of niche medicines in over 100 countries under Mercury Pharma, Amdipharm, Focus and Abcur brands

Revenue was £293 million or equal it $446 million during 2014.

Under the deal’s terms, Concordia will be paying cash of £800, issue 8.5 million shares and assume debt of $1.4 billion. It will also pay as much as £144 million in cash during the fourth quarter of next year bases upon performance.

Following this deal, Cinven will have 19.9% of Concordia.

Concordia, which is based on Ontario, Canada, is a healthcare business that focuses on legacy pharmaceutical products as well as orphan drugs.

In fiscal year 2014, it reported $122.2 million in revenue.