Ogilvy adds biotech to its capabilities with Feinstein purchase

NEW YORK: Ogilvy continued its buying spree last week with the acquisition of Cambridge, MA-based Feinstein Kean Partners, a healthcare and biotech agency with annual billings in excess of dollars 9 million.

NEW YORK: Ogilvy continued its buying spree last week with the acquisition of Cambridge, MA-based Feinstein Kean Partners, a healthcare and biotech agency with annual billings in excess of dollars 9 million.

NEW YORK: Ogilvy continued its buying spree last week with the

acquisition of Cambridge, MA-based Feinstein Kean Partners, a healthcare

and biotech agency with annual billings in excess of dollars 9

million.



While terms of the deal were not disclosed, sources said dollars 12-15

million in cash and/or WPP stock changed hands. The purchase follows

Ogilvy’s acquisition of dollars 8 million Hollywood entertainment shop

Baker/ Winokur/Ryder last month (PRWeek, Oct. 25).



Feinstein Kean Partners, which is changing its name to Feinstein Kean

Healthcare (FKH), and consulting unit Kendall Strategies will maintain

their own brands.



’Feinstein Kean gives us a great opportunity to expand our work in the

healthcare arena into biotech,’ said Ogilvy CEO Bob Seltzer. He added

that the move provides FKH with the opportunity to add services such as

public affairs support, which he said is important for issues-driven

biotech clients.



FKH founder and CEO Peter Feinstein added that the deal, which was in

the works for six months, provides his agency with the global reach that

he believes is necessary to keep up with the pace of the healthcare

industry.



With combined US healthcare income of dollars 26.2 million, the newly

merged firm would have ranked second in the PRWeek healthcare practice

rankings (PRWeek, June 28).



No layoffs are expected as a result of the merger. While Seltzer said he

would like FKH’s Cambridge office and Ogilvy’s Boston office to be

housed under one roof, no timeframe has been set for such a move.



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