7th Oct 2014 13:09
LONDON (Alliance News) - Media buying giant WPP PLC said Tuesday that it has acquired US-based Element Marketing Group Inc, via its health communications experts company Ogilvy CommonHealth Worldwide.
Element posted revenue of USD8.3 million for 2013, and had gross assets of USD2.4 million as of end-August 2014.
Element will be rebranded as Ogilvy CommonHealth Market Access. Element employs 30 people and has clients including "a number of leading biotech and pharmaceutical companies," WPP said.
No financial details of the acquisition were disclosed.
Shares in WPP are trading down 1.1% at 1,197.00 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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