Keeping an eye on the growing pharmaceutical industry Boston based Digitas Inc, the interactive marketing firm second largest of its kind in the country has bought Philadelphia based Medical Broadcasting Co. (MBC) an advertising and marketing agency focused on pharmaceutical domain for $30.4 million.
Digitas is paying $30.4 million ($22.4 million in cash and $8 million in stock). A three year earning based agreement will determine the actual price. You can expect the closing of the deal by the end of first quarter of 2006.
Under this agreement MBC will continue to perform exclusively, will retain its brand identity and relationship with its client base. The agency now has 140 employees on his pay rolls and Larry Mickelberg, senior vice president of marketing and media services says the deal will have positive effect on agency’s employees and shareholders. Analysts feel that MBC’s fee revenue could have risen by good $2 million for the year ending Dec. 31, 2005.
Founded in 1990, MBC specializes in the creation of innovative, integrated marketing programs for clients in the pharmaceutical, biotechnology, and medical devices industries. MBC services include digital marketing strategy, web analytics, online media planning and buying, search engine marketing, creative design, web development, video production, and relationship marketing. Its current client roster consists of many of the largest healthcare organizations in the world, including 8 of the top 10 pharmaceutical companies as ranked by worldwide healthcare revenue.
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