InVentiv Health today announced two major acquisitions worth over $30 million to its communications group.
InVentiv Health will acquire Ignite Health for $20 million in cash and stock, plus potential earn-out payments for exceeding specified financial targets.
Based in Irvine, CA, Ignite Health specializes in technology-driven medical advertising and interactive communications targeting patients, caregivers and healthcare professionals.
Ignite Health clients include Amylin Pharmaceuticals, Bausch & Lomb, Cephalon, Eli Lilly, Genomic Health, Gilead Health, Merck Publishing, Novacea and Valeant Pharmaceuticals.
“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,” Ignite Health CEO Jackie Herr said in a statement.
Herr will continue to lead Ignite following the acquisition and no staffing changes are planned, inVentiv Health spokeswoman Marcia Frederick told MM&M.
“Nothing with their business will change aside from the fact that they now have our resources to tap into and likewise, we now have their resources to tap into,” Frederick said.
InVentiv also announced plans to acquire the healthcare focused public relations firm Chamberlain Communications Group for $13 million in cash and stock, plus potential earn-out payments for exceeding specified financial targets.
New York-based Chamberlain was founded in 1993 and serves the healthcare industry exclusively.
“Our focus has always been building on strong, healthy brands through campaigns that provide doctors and patients with powerful, evidence-based rationales for public healthcare decisions,” said Richard Chamberlain, president of Chamberlain Healthcare Public Relations in a statement. “We are joining inVentiv Health because they share this philosophy.”
Chamberlain will continue to lead the business from its existing New York offices. No staffing changes are planned, Frederick said.