The acquisition of Chamberlain Healthcare Public Relations and Chandler Chicco Agency in 2007 contributed to success in the second quarter, according to the company. In addition, new wins and expansions with existing accounts added to the business pipeline and attributed to the division's growth, the company's statement said. In the first quarter, the company had also reported a revenue increase of 44% to $88.3 million.
Companywide, InVentiv Health increased revenues by 23% to $285 million for the second quarter, which ended June 30, compared to $232.4 million in 2007. Net income for the quarter rose from $7.2 million in 2007 to $13.1 million in 2008.
Year to date, InVentiv Health revenues increased to $460.6 million compared to $369.8 million in 2007 at this time; net income rose to $21.2 million from $17.7 million last year in the like period.