InVentiv Health, Inc. (Nasdaq: VTIV - News) announced today that it has signed a definitive agreement to acquire Chandler Chicco Agency (CCA), the world's largest privately-held healthcare public relations firm. CCA will operate within the inVentiv Communications division, which provides a full suite of integrated healthcare marketing and communications solutions.
Under the terms of the agreement, inVentiv will acquire CCA for $65 million in cash and stock, plus earn-out payments for exceeding specified financial targets. The transaction, which is subject to receipt of Hart- Scott-Rodino approval and other customary closing conditions, is expected to close in the third quarter. The acquisition is expected to be immediately accredited to inVentiv's earnings.
Chandler Chicco Agency is a full-service, global healthcare public relations firm. The company's client roster includes many of the world's top pharmaceutical companies including Allergan, GlaxoSmithKline, and Novartis.
Originally published in the Santa Monica Daily Press print edition on July 11, 2007. Read the original PDF.