UDG Healthcare buys specialist PR firmsTuesday 08 July 2014 13.57
International healthcare services company UDG Healthcare has announced a deal to buy specialist healthcare and scientific public relations businesses, Galliard and Nyxeon (MFRHRC Holdings Limited).
The deal is worth £6.5m on completion with an additional £6.5m payable based on achievement of agreed profit targets over the next threee years.
UDG said it expects the deal to immediately enhance its earnings.
It said the new business will complement the existing services delivered by its Ashfield Healthcare Communications business.
Galliard and Nyxeon are both headquartered in London and employ 33 people who provide services to global pharmaceutical companies, healthcare-related organisations and charities.
"This purchase is fully aligned with our global growth strategy of extending the range of services we offer in high value multichannel healthcare communications and follows the successful acquisitions of InforMed, Watermeadow and more recently Knowledgepoint360," commented Liam FitzGerald, the company's chief executive.