Huntsworth takes on healthcare firms with multi-million-pound acquisitions

Healthcare communications group Huntsworth has announced the purchase of two healthcare research and communications businesses in a multi-million-pound double swoop.

Taaffe: Acquisitions a boost to Huntsworth's medical division
Taaffe: Acquisitions a boost to Huntsworth's medical division

It bought 70 per cent of Luxembourg-based CC, a strategic market access, health economics and outcomes research consultancy, for an initial cash consideration of €15.5m (£13.6m). The business will sit within the group’s medical division and will continue to be led by founder Pr Mondher Toumi.

CC generated revenues of c. €10.6m (£9.3m) and operating profits of c. €4.1m (£3.6m), and its gross assets were c. €16.4m (£14.4m) as of 31 December 2018.

Hunstworth also bought an 85 per cent stake in global health communications specialist Kyne, for an initial cash consideration of $17.4m (£13.7m). The health communications agency provides public relations and patient advocacy services to a broad range of pharmaceutical and biotech clients. The business will sit within the Group’s marketing division and will continue to be led by founder David Kyne.

KYNE generated revenues of c. $10.2m (£8m) and operating profits of c. $1.3m (£1m), and its gross assets were c. $3.5m (£2.8m) as of 31 December 2018.

The Huntsworth Group intends to focus on organic growth and the integration of recent acquisitions for the remainder of the current financial year, with no additional acquisitions expected. Huntsworth CEO Paul Taaffe (main image) said he was delighted to welcome CC and KYNE into the Huntsworth Group as both businesses will expand their healthcare offering.

"CC brings health economics and market access to enhance the scientific evidence capability of MEDiSTRAVA, our medical division," he added.

"KYNE brings an expanded capability in healthcare public relations and patient advocacy to the Evoke Group to support additional briefs from global clients. These acquisitions demonstrate Huntsworth’s commitment to supporting the changing needs of pharmaceutical and biotech clients."

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