Please login to the form below

Not currently logged in
Email:
Password:

Creston buys PAN

Healthcare ad agency, PAN Advertising, has been acquired by marketing services group, Creston

Creston, the marketing services group, has bought independent healthcare advertising agency, PAN Advertising, in a deal with a potential total value of £18.8m.

Under the deal, Creston will pay an initial consideration of £10.1m plus up to £300,000 dependent on the net assets of PAN. An additional deferred consideration of up to a maximum of £8.4m is dependent upon the financial performance of the agency in the period to March 31, 2009.

PAN has grown significantly since it was established in 1992, to become one of the leading full-service agencies in healthcare, boasting a client list that includes Boehringer Ingelheim (BI), Bristol-Myers Squibb (BMS), Cephalon, GlaxoSmithKline, Organon, Schering and Wyeth.

Growth at the agency has been fuelled by several major UK product launches, such as Singulair, Crestor, Spiriva and Abilify, alongside expansion into international markets and pan-European launches for BI, BMS and Ipsen.

PAN managing director, Ben Davies, and director of brand planning, Craig Mills, will remain at the company, while chief executive, Tony Yates, will leave immediately to concentrate on his other company Solaris Health.

Creston, now seen as one of the fastest growing publicly-listed marketing services companies, has struck 10 takeover deals since it was formed in 2001, including the acquisition of PR firm, Red Door Communications, in 2005.

2nd September 2008

Share

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
IGNIFI

We’re IGNIFI. An independent creative agency, we help spark and sustain successful brands for some of the biggest names in...

Latest intelligence

Webinar:
Securing a future for telehealth with immersive market research insights...
Accelerating patient recruitment in clinical trials with the Clinical Enrolment Managers (CEMs)
How Innovative Trials' global Clinical Enrolment Managers (CEMs) give clinical trial sites the local touch...
Six ways to improve diversity in clinical trials
Diversity is becoming increasingly important as a focus of clinical trials. This whitepaper gives six approaches that could be implemented to help make diversity a bigger focus on your clinical...