Ellis, the former international MD of Cohn & Wolfe, and Medicom chairman Townsend now own 100 per cent of the firm, which comprises Medicom PR, Medicom Education, Medicom Interactive and Medicom Publishing.
Prior to the deal, Townsend owned a ‘minimum percentage stake’ and Ellis had no stake at all in the group, which was formerly owned by two undisclosed venture capital companies.
Ellis, who quit C&W a year ago (PRWeek, 13 September 2002) and joined Medicom as a consultant last November (PRWeek, 1 November 2002) cited what he described as Medicom’s broad range of PR, comms and publishing operations as the reason behind the move, which has seen him become group MD.
Clients of the PR arm include Pfizer, for which Medicom promotes all products ‘in the context of the General Medical Services contract’ with GPs, according to Ellis, and Shire Pharmaceuticals for which it promotes two products: Reminyl and Colazide.
The group, which is based in Esher, Surrey, employs 36 staff, with around half handling ‘pure communications’ work, according to Ellis.