Huntsworth buys medical comms shop ScopeMedical for £4.6m

Huntsworth has announced this morning it has bought up medical comms firm ScopeMedical for an initial £4.6m.

Huntsworth Health chief executive: Neil Matheson
Huntsworth Health chief executive: Neil Matheson
The listed comms group has acquired the entire share capital of ScopeMedical from CEO Jeremy Williams, CFO William Allingham and one other shareholder.

The initial cash consideration of £4.6m will see £0.67m deferred for 12 months and further performance based payments for the two years to the end of 2013. The maximum amount payable would be £11m.

Neil Matheson, chief executive of Huntsworth Health, commented: ‘ScopeMedical is one of Europe’s most respected medical communications agencies, working with blue-chip clients on the basis of strong business relationships, excellence in strategic thinking and the highest quality scientific and medical content. This best in class reputation, together with international reach, will contribute to the expansion of the quality services that we offer to the pharmaceutical sector.’

ScopeMedical offers professional services to global pharmaceutical and biotechnology companies headquartered in Europe and America and will increase Huntworth Health’s global footprint.

Sally Withey, Huntsworth group chief operating officer, said: ‘The acquisition of ScopeMedical will further strengthen our Huntsworth Health offer, which now constitutes approximately 27% of group revenues.’

She added: ‘The group expects to meet management's profit expectations in the first half of this year and looking ahead for the full year committed revenues have increased from 80% announced 9 weeks ago to 84%.’

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