Thu, 31 Dec 2020 | ADMINISTRATION
Digital marketing firm Kin + Carta has sold its healthcare communications business Hive to Fishawack Medical Communications and Fishawack Midco US Holdings as part of its ongoing transformation.
Originally a printing business, Kin + Carta has been working hard to move towards digital marketing and now has offices across the UK, Europe, the US, South America and Asia.
The Health Hive Group and its subsidiaries, as well as The Health Hive and Spire digital, contributed net revenue of £6.5 million to Kin + Carta in the financial year ending 31 July 2020. It has gross assets of £9.1 million.
Commenting on the sale, J. Schwan, CEO of Kin + Carta, said: “We are pleased to have found a buyer for Hive, which is a strong business but not aligned to our focus on the DX market.”
“We are also thankful for the service of our Hive employees over the years. The proceeds strengthen our financial position and will allow us to make additional DX acquisitions,” he added.
“The contribution that Spire Digital has made since we acquired it just over a year ago, as well as the accelerated transformation to digital catalysed by the pandemic, confirm our belief that our focus on the fast growing DX market will drive value for our shareholders.”
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