Agency and clinical services giant acquires CanaleComm for $31m

UDG Healthcare has acquired San Diego-based Canale Communications for up to $31m (£24m), continuing its 2019 spending spree on both sides of the Atlantic.

Carin Canale-Theakston's Canale Communications has been acquired for up to $31m

UDG said its acquisition of CanaleComm was for an initial cash sum of $20m (£15.5m), to be followed by a further sum of $11m (£8.5m) after three years, depending on profits.

UDG's move follows its acquisition, in May, of UK-based agency Incisive Health for more than £13m, and US-based strategic management healthcare agency Putnam Associates for nearly £70m.

CanaleComm, which has a team of 30 people and specialises in life sciences, will join UDG Healthcare’s global agency network Ashfield Healthcare Communications, which includes Incisive, Pegasus and Galliard in the UK.

The agency provides corporate and investor comms, PR and creative services to biotech, biopharma, digital health and genomics companies.

CanaleComm founder and chief executive Carin Canale-Theakston said: "The acquisition of CanaleComm by UDG Healthcare and the joining of forces with Ashfield Healthcare Communications' network is the ideal platform as we look to grow a more robust service offering for our clients."

Canale-Theakston added that UDG's focus on life-sciences made the acquisition a strong proposition.  

Matt Jacobson, executive director of Ashfield Healthcare Communications, said: "[CanaleComm] brings a distinct and highly complementary service offering for our healthcare and life-sciences clients and further strengthen our US footprint especially in the West Coast biotech industry."

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