Fishawack, an LDC-backed company which provides scientific communications services to global pharmaceutical companies, has acquired US-based business Carling Group for an undisclosed sum.
Carling Group includes Carling Communications, a full-service healthcare marketing and communications agency, and MCME Global, a specialist provider of medical education services, both of which have their headquarters in San Diego.
This is the first acquisition Fishawack has made since private equity investor LDC backed the £38m buyout of the business in January this year, with a commitment to support its buy-and-build strategy. Carling Communications will be the first agency in the Fishawack Group to focus solely on healthcare marketing.
Carling Group was founded in 2010 by Didi Discar and now has a team of more than 100 people specialising in full-service marketing, advertising and physician communications. It supports clients in the pharmaceutical, biotechnology and medical device industries and provides specialist expertise across 35 therapeutic areas, including ophthalmology, dermatology, cardiovascular, diabetes, multiple sclerosis and pain management.
Simon Braham, Investment Director at LDC, said: “Over the past six months we have been working closely with Oliver and his team to implement their growth strategy. With the acquisition of the Carling Group, Fishawack has not only strengthened its foothold in the US, the largest market for the global pharmaceutical sector, but bolstered its position as one of the world’s largest full-service medical communications groups.”
Oliver Dennis, CEO of Fishawack, added: “The financial backing and support of our investment partner LDC is enabling us to accelerate our international growth strategy. Through creative agency Carling Communications we’re now able to offer clients a comprehensive healthcare marketing service for the first time, while the addition of MCME bolsters our medical education offering. This deal marks the seventh strategic acquisition during our 16-year history and a significant step in the expansion of our reach, capabilities and client base.”