WPP strengthens its footing in US pharmaceutical market with Communications Media Inc acquisition
WPP has announced the acquisition of one of the largest healthcare media agencies in the US in Communications Media, Inc (CMI).
As part of the deal CMI will merge with WPP’s Ogilvy CommonHealth Medical Media and will become a media investment management hub for GroupH, parent company for WPP’s healthcare specialist companies.
CMI generated unaudited revenues of US$38 million as of 31 December 2015 and has 10 of the top 20 pharmaceutical advertisers in the United States as clients. The Philadelphia headquartered frim represents 340 brands among 51 clients.
The company is a leading provider of media investment management and non-sales force promotional strategy, planning, customer insights and data solutions to the healthcare and life sciences industries.
This acquisition continues WPP's strategy of investing in the pharmaceutical and healthcare markets in the US.