South West London-based comms agency Mash Health has joined Cello Group after being acquired for up to £1.5m.
It will sit alongside Cello’s existing portfolio of health companies, which includes Insight Research Group, MedErgy Health Group and The MSI Consultancy.
Mash was acquired for an initial consideration of £0.6m, with a performance-related consideration of up to £0.9m, in a deal that will see founding partners Jane Ayton and Marianne MacDonald continue in their leadership roles.
The agency had an unaudited turnover of £1.5m for the year ending March, 31 2012, with gross profits of £1.1m and before-tax profits of £0.1m.
“Mash is a well-established brand, particularly in the consumer end of the pharmaceutical space and this acquisition further reinforces our strong position in the consumer healthcare market,” said Cello Health chairman Stephen Highley.
“We have already worked closely with Mash on a range of client assignments and are looking forward to continuing to build on our exciting progress in establishing Cello Health as a leading player in the global healthcare market.”
The deal will allow Mash, whose client list includes GSK, J&J, Bayer and Pfizer, to leverage the group’s operational reach, which covers more than 70 countries, and capitalise on its health and consumer expertise.