Omnicom Buys BioPharm Communications For Undisclosed Terms

Omnicom Group Inc. OMC unit, Omnicom Health Group, revealed that it agreed to acquire BioPharm Communications for undisclosed terms and conditions. The acquired company was a leading communications agency that specialized in proprietary, multichannel marketing programs to physicians, as well as, healthcare practitioners for pharmaceutical and biotechnology clients.

According to the company, BioPharm, which was established in 2005 in New Hope, Pennsylvania, catered 17 of the 25 biggest pharmaceutical companies in the world. The company indicated that the transaction was subject to regulatory approval and was expected to close in the second quarter of the current year.

Omnicom Health Group CEO, Ed Wise, commented, "BioPharm's technology, database and insights focused on customer relationship management and audience-responsive content will help Omnicom Health Group expand its leadership position in data-driven healthcare marketing. I am very pleased to welcome the entire BioPharm team to Omnicom Health Group."

The company indicated that BioPharm co-founders, Jeff Persinger and Daniel Egeland, would continue in their leadership roles as President and CEO, and EVP and Chief Sales and Marketing Officer, respectively. Aside from that, other key executives would also maintain their current operating positions. Persinger said "We are excited to align with a strategic partner that has the unmatched stature and resources of Omnicom Health Group." Egeland added further to it, "This is a strong strategic and cultural fit that we think will allow us and Omnicom Health Group to grow and fortify our leadership position as multichannel marketers for leading healthcare clients."

On Wednesday, the stock shed 0.12 percent.