Cello Buys US Healthcare MR Firm Promedica

UK-based marketing services group Cello has acquired US full service healthcare researcher Promedica for an initial $700k in cash, and up to $1.8m more dependent on financial performance in the next three years.

Burlingame, CA-based Promedica was founded in 1984 by sisters and former GD Searle (now Pfizer) researchers Joan Day and Susan Rowen. The business specializes in market access, new product planning and lifecycle management for biotech, pharmaceutical, medical device and diagnostics companies, and had revenues of $1.9m in the year to December 2013.

Following the acquisition, Promedica will become part of Cello Health and work closely with the Health Insight teams in London, New York and Chicago.

Stephen Highley, Chairman of Cello Health, comments: 'Promedica's experienced and talented team will now open up capacity on the West Coast of America where we are seeing significant activity from both pharmaceutical and biotechnology clients. We are now very much focused on our expansion in the US through our three core capabilities in insight, consulting and communications, and the acquisition of Promedica fits with this strategy.'

Web sites: www.cellohealth.com and www.promedicainc.com .