23rd Oct 2013 07:00
The Mission Marketing Group plc
Acquisition of Solaris Healthcare Network Limited
The Mission Marketing Group plc ("the missiontm" or the "Company"), the national marketing communications and advertising group, is pleased to announce that it has acquired Solaris Healthcare Network Limited, ("Solaris"), for an undisclosed sum ("the Acquisition").
Solaris is an independent, management-owned medical communications agency with an office in Richmond offering a wide range of services including strategic communications, medical & patient education and a rare disease specialism across a Client base including household names such as GSK, Almirall, Bayer and Gedeon Richter. Solaris operates in a very focused niche that fits well with the strategy of the missiontm and its portfolio of specialist agencies.
Solaris has historically been both profitable and cash generative, and expects to make a modest profit in the current financial year. The Board of the missiontmexpects the Acquisition to make a positive contribution in the next financial year and will be financed through the missiontm's cash flows and existing bank facilities.
Solaris's operations will be combined with those of the Bray Leino Healthcare business and the combined operations will trade under the name of Solaris.
Executive Chairman of the missiontm, David Morgan, said: "We are delighted to add to our Healthcare business within the missiontmfamily. Solaris is a very focused business, and adds considerable value to our existing Healthcare offering & heritage. We look forward to driving Solaris's growth through our infrastructure and shared knowledge."
Enquiries:
The Mission Marketing Group plc David Morgan, Chairman Peter Fitzwilliam, Finance Director
| 020 3463 2099
|
finnCap Limited Geoff Nash/Henrik Persson (corporate finance) Simon Starr (corporate broking) | 020 7220 0500 |
the missiontm is a national marketing communications and advertising group with 17 offices across the UK, listed on AIM (TMMG). The Group specialises in providing national and international clients with award winning marketing, advertising and business communications. Group members include Addiction, April-Six, Balloon Dog, Big Communications, Bray Leino, RLA, Robson Brown, Story, ThinkBDW and Yucca. Following the Solaris acquisition, the missiontm now employs over 800 staff.
www.themission.co.uk
Related Shares:
The Mission Group