SAN FRANCISCO: Seeking to bolster its 10-month-old health technology practice, GCI Group has acquired Russell-Welsh, a small Silicon Valley biotech specialist.
SAN FRANCISCO: Seeking to bolster its 10-month-old health
technology practice, GCI Group has acquired Russell-Welsh, a small
Silicon Valley biotech specialist.
Founded in 1991 by former Cetus exec Katharine Russell, Russell-Welsh
specializes in IR and PR for start-up life sciences companies.
’We’re building a practice that serves the needs of young companies,
whose main concern is pre-IPO IR, and mature companies, where PR and IR
are more overlapping,’ said GCI health tech director and SVP Paul
Laland, who established the practice group when he arrived from
Genentech last summer.
GCI healthcare EVP and MD Bob Pearson hinted at further acquisitions in
the healthcare space: ’Let’s just say we are very committed to growth in
the healthcare arena, especially internationally.’
The deal is further evidence that the hot biotech sector has grabbed the
attention of multinational firms. Ogilvy took its dip into the biotech
pool last November when it purchased Feinstein Kean Partners, a dollars
9.1 million Cambridge, MA-based biotech specialist, for a rumored
dollars 12-15 million in cash and/or WPP stock.