UDG's Ashfield eyes continued growth in most recent acquisition
Cambridge BioMarketing is full-service advertising and communications agency with a focus on orphan diseases and specialty markets.
The company is being acquired for an initial consideration of $30m, with an additional consideration of up to $5m payable over the next twelve months.
The deal comes on the heels of UDG’s acquisition of Vynamc, a US-based healthcare industry management consulting firm.
According to the company, both acquisitions are in line with Ashfield’s strategy to expand in the US. Ashfield is UDG’s commercialization services division.
"This acquisition fits extremely well with UDG’s overall strategy – we are looking to grow and enhance our service offering in the US whilst diversifying the portfolio of services and clients that we work with," a UDG spokesperson told us.
Cambridge BioMarketing will join Ashfield Healthcare Communications as one of its agencies. UDG will conduct a full review and identify areas where it will enhance the offering for clients to integrate the organizations.
"Cambridge BioMarketing will benefit from joining UDG Healthcare and Ashfield in areas such as cross-selling, introduction to existing Ashfield clients and coupling of services," the spokesperson added. "There is also an opportunity for Cambridge BioMarketing to bring their expertise in the orphan drug/rare disease space in collaboration with Ashfield’s broad service offering."