The healthcare communications group Cello Health continued its expansion with the acquisition of San Francisco-based market research consulting company Promedica.
Promedica, a specialist in new product planning for life science companies, is also an adviser to biotech, pharma, diagnostic firms, start-ups and the investment community.
Stephen Highley, Cello Health chairman, said: “This acquisition, and the introduction of Promedica’s experienced and talented team into Cello Health, will enable us to open up capacity on the West Coast [of the US], where we are seeing significant activity and potential with both pharma and biotech clients.
“We are now very much focused on our expansion in the US through our three core capabilities in insight, consulting and communications, and the acquisition of Promedica fits with this strategy.”
Promedica will work closely with Cello Health’s market research branch Cello Health Insight in London, New York and Chicago, alongside working with its US teams in consulting and communications.
The acquisition is Cello Group’s second of the year, the first being that of iS Health Dynamics in May for £2.5m.
Joan Day, president of Promedica, added: “We are excited to join the Cello Health family and offer our clients the benefits of expanded capabilities and access to a broad and deep global network of healthcare expertise.”
The initial value of the deal is $700,000 in cash, with a maximum of $1.8m payable depedning on the financial performance of the business.