This deal - combined with Digitas' acquisition last year of Medical Broadcasting - highlight the continued shift of healthcare marketing spending to the online world.
New York (PRWEB) February 27, 2007
Earlier today, inVentiv Health, Inc., the leading provider of customized clinical, sales, marketing and communications services to the global pharmaceutical and life sciences industries, announced the acquisition of Ignite Health, a full-service interactive healthcare marketing agency. AdMedia Partners (http://www.AdMediaPartners.com), a New York investment bank specializing in mergers and acquisitions advisory services to the advertising and marketing, media, and related online and information services businesses, represented Ignite Health in the acquisition.
Philip A. Palazzo, Jr., a managing director of AdMedia Partners, said, "Ignite Health is a leading independent, Web-centric healthcare marketing communications agency that offers a unique social networking and content-based approach to online and offline marketing strategy and services. The company creates interactive, highly engaging content to educate, inspire and empower chronically ill patients and their caregivers concerned with diseases such as cancer, diabetes, hepatitis, HIV, cardiovascular disease, mental illness and ophthalmic conditions."
Palazzo added, "This deal - combined with Digitas' acquisition last year of Medical Broadcasting - highlight the continued shift of healthcare marketing spending to the online world."
The official release is as follows:
inVentiv Health to Acquire Ignite Health, Leading Technology-Driven Healthcare Ad Agency
Acquisition Strengthens inVentiv Communications' Expertise in Patient-focused Interactive Communications
SOMERSET, N.J., Feb. 27 -- inVentiv Health, Inc. (Nasdaq: VTIV) today announced that it has signed a definitive agreement to acquire Ignite Health, an independent healthcare advertising agency that uses a technology-centric approach to communicate with people living with chronic diseases and those who care for them. Ignite Health will operate under the inVentiv Communications division, which provides a full suite of integrated healthcare marketing and communications solutions.
Under the terms of the agreement, inVentiv Health will acquire Ignite Health for $20.0 million in cash and stock, plus potential earn-out payments for exceeding specified financial targets. The transaction is expected to be immediately accretive to inVentiv's earnings.
Based in Irvine, Calif., Ignite Health specializes in medical advertising and interactive communications targeting patients, caregivers and healthcare professionals. One of the top 20 independent healthcare agencies, Ignite has won more than 100 industry awards since its founding in 2001. Key clients include Amylin Pharmaceuticals, Bausch & Lomb, Cephalon, Eli Lilly and Co., Genomic Health, Gilead Sciences, Merck Publishing, Novacea and Valeant Pharmaceuticals.
"Ignite Health has built a unique platform for connecting pharmaceutical brands with patients, caregivers and healthcare providers using electronic communications such as online advertising, disease education, customized games, blogs, podcasting and online communities," said Blane Walter, president and CEO of inVentiv Communications. "We're very pleased to add their capabilities to our existing suite of services."
"Ignite Health is distinct from other healthcare agencies because we combine deep therapeutic expertise with an understanding of how to engage and educate people through a variety of interactive channels," said Jackie Herr, CEO of Ignite Health. "Joining with inVentiv Health will enable us to maintain our focus, while also providing us with access to a broader range of talent and resources that will allow us to better serve our clients."
About Ignite Health
Ignite Health is a new breed of advertising agency with a fresh approach to healthcare marketing and communications. By complementing highly focused print strategies with a wide range of tailored electronic strategies - from online advertising and patient education to custom-engineered games and simulations - the company helps clients meet their objectives with unparalleled effectiveness and efficiency. For more information, visit http://www.ignitehealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause Ventiv Health's performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; our ability to compete successfully with other services in the market; our ability to maintain large client contracts or to enter into new contracts; uncertainties related to future incentive payments and revenue share agreements; and, our ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by Ventiv Health, Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
About AdMedia Partners
AdMedia Partners is a leading boutique investment bank that provides middle market mergers and acquisitions advisory services to advertising and marketing services, media and publishing, and related internet businesses. Founded in 1990 and located in New York City, the firm has completed over 100 transactions since 1999.
Selected recent interactive and internet marketing transactions completed by AdMedia Partners include:
- Representing Medical Broadcasting Company, one of the largest independent interactive healthcare agencies, in its acquisition by Digitas Inc.
- Representing Spannerworks, a leading U.K. search engine marketing agency, in its acquisition by iCrossing.
- Representing New Media Strategies, a leading online word-of-mouth marketing agency, in its acquisition by Meredith Corporation.
- Representing Genex, an interactive marketing services firm that specializes in online customer relationship marketing, in its acquisition by Meredith Corporation.
- Representing Impulse Marketing Group, an online lead generation affiliate marketing company serving the financial services industry, in its acquisition by an undisclosed buyer.
- Representing Bridge Worldwide, an interactive relationship marketing agency, in its acquisition by Wunderman, a unit of WPP Group.
- Representing Dynamic Logic, the leading independent marketing research company, in its acquisition by Millward Brown, a unit of WPP Group.
- Providing strategic advice to aQuantive in its acquisition of sbi.razorfish.