15th Dec 2015 17:18
LONDON (Alliance News) - WPP PLC on Tuesday said that Kantar Health, a healthcare consulting and market research company, has acquired CEEOR in Czech Republic.
The financial details of the acquisition were not disclosed.
Kantar Health is part of Kantar, WPP's data investment management division.
Founded in 2006 and based in Prague, CEEOR has offices in Slovakia and Hungary. It is a research and consulting organisation specialising in analytical services for the pharmaceutical, biotechnology and healthcare industries.
According to WPP, CEEOR's main business is "centered on commercial effectiveness activities, electronic data collection, and real-world research studies, including epidemiology and health outcomes".
"Through this acquisition, Kantar Health will further strengthen its capabilities in the commercial effectiveness field, helping clients to better optimise decisions in marketing and sales, investments, timing and targeting," WPP said.
CEEOR generated revenue of EUR1.6 million in 2014, and it had gross assets of about EUR700,000 at the end of that year.
Shares in WPP closed up 2.2% at 1,498.70 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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