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Huntsworth Buys Healthcare Research Firms
UK-based PR company Huntsworth has bought two pharmaceutical market research companies - Context Research International and Brand Health International (BHI) - to develop its healthcare division. Huntsworth merged with MR and PR holding company Incepta earlier this year.
Context focuses on brand-building research in the healthcare sector, conducting research with medical personnel and patients. Huntsworth will pay £3.02m for the company. Of that, £1.8m will be paid in cash, and the rest from issuing new shares.
BHI specialises in quantitative research to measure functional and psychological elements of branding. It typically undertakes research with doctors, but also surveys patients and pharmaceutical company employees. Huntsworth will make an initial payment of £32,970 for BHI, followed by a deferred payment of up to £5m, depending on average profit until the end of August, 2009.
Both agencies will operate under the Huntsworth Health brand, which also includes the company's current healthcare business Root Research. David Rowley, Chief Executive of Huntsworth Health, says the acquisition supports the company's strategy of building a 'global integrated healthcare business'.
Huntsworth is online at www.huntsworth.co.uk . BHI's web site is at www.brand-health.com , and Context is at www.context-research.com .
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