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Creston acquires DJM Digital Solutions

Deal includes 75 per cent of shares and an initial payment of £1.2m

UK communications and research group Creston has acquired DJM Digital Solutions in a deal that could be worth more than £3m.

Creston Health and Richmond-based digital healthcare agency DJM have been working together for the past year on UK, European and global work for the likes of AstraZeneca, Abbott and Takeda.

Their collaboration has also recently led to new client work from Leo Pharma, UCB and Pfizer.

Don Elgie, group chief executive, Creston, said: “The healthcare industry has historically been very cautious about the use of digital marketing, in light of the tight regulatory environment in which it operates.

“However, the rapid uptake of smartphones and tablets among physicians is revolutionising work practices and the pharmaceutical industry is having to adapt its marketing communications accordingly.

“In the UK, in an industry where digital has been adopted quite late compared to other business sectors, DJM is one of the largest and most respected independent digital healthcare agencies.

DJM was founded in 2001 by Dominic Marchant, who will join the Creston Health Board and continue to manage the company on a day-to-day basis, reporting to Creston's head of health Catherine Warne.

Marchant said: "We're very excited to be joining Creston as it not only offers us the opportunity to bolster and grow our healthcare business, but it also provides real opportunities for our consumer offering too.”

Creston has initially taken a 75 per cent stake in DJM for an initial payment of £1.2m and will make a final payment of up to £1.8m - based on average profit before interest and tax from the deal's completion to March 2015.

The remaining 25 per cent of shares could then be bought by Creston for up to £2.4m from 2018.

DJM employs 26 staff at its offices and studio in Richmond focuses its digital expertise in three core areas – the 'experiential' like augmented reality, iPad e-detailing and more traditional online activities like websites and SEO.

Joining Creston Health the agency will sit alongside its other healthcare outfits, including Red Door Communications, Pan and Rock Medical Communications.

28th November 2012

From: Marketing



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