Thu, 12 Sep 2019 | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has successfully completed the acquisition of HealthCare21 healthcare consultancy with the help of LDC private equity firm.
HealthCare21 has been in operation for over 23 years, producing healthcare programmes and materials specialising in content creation, editorial, digital and scientific strategy. It has offices in the north west of England, Singapore and Dubai.
Similarly, Lucid Group provides medical communication services, with companies like Bluedog, Leading Edge, Lighthouse, Lucid Partners and ViVid as part of its portfolio.
The acquisition will allow both companies to expand on its range of services and enhance its relationships with new clients in new markets.
One of Lucid Group’s co-founder, Dennis O’Brien, said: “This is a perfect match and builds on Lucid’s leadership position in medical communication.
“We have developed a reputation for excellent strategic consultancy, impactful medcomms, digital excellence, and creative execution. HealthCare21 brings further scientific and editorial expertise to increase our offering to our clients and bring more opportunities for our teams.”
HealthCare21’s managing director, Cliff Wyatt, added: “With our strongest ever year in 2018, this is a good time for us to capitalise on this momentum, benefit from better infrastructure and additional capabilities like behaviour change and establish ourselves further as the partner of choice for our clients.”
Lucid Group and the deal have been backed by private equity firm LDC since 2017, which has assisted Lucid over time develop and grow its portfolio of services through acquisitions.
LDC’s director, Christian Bruning, commented: “Under Dennis's leadership, Lucid continues to increase its reach and diversify its service offering through strategic complementary acquisitions.
“This is Lucid's second acquisition this year after creative digital consultancy Bluedog joined the group in February.
“It represents another positive step in the firm’s ambitious strategy to expand overseas and establish itself as a leading international provider of healthcare communications.”
The business serves a large catchment area and has a loyal client base of over 20,000 registered clients. It is growing by 175+ new per month.
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