inVentiv Health to Acquire Ignite Health, Leading Technology-Driven Healthcare Ad Agency
SOMERSET, N.J., February 27, 2007 /PRNewswire-FirstCall/ -- inVentiv Health, Inc. today announced that it has signed a definitive agreement to acquire Ignite Health, an independent healthcare advertising agency that uses a technology-centric approach to communicate with people living with chronic diseases and those who care for them. Ignite Health will operate under the inVentiv Communications division, which provides a full suite of integrated healthcare marketing and communications solutions.
Under the terms of the agreement, inVentiv Health will acquire Ignite Health for $20.0 million in cash and stock, plus potential earn-out payments for exceeding specified financial targets. The transaction is expected to be immediately accretive to inVentiv's earnings.
Based in Irvine, Calif., Ignite Health specializes in medical advertising and interactive communications targeting patients, caregivers and healthcare professionals. One of the top 20 independent healthcare agencies, Ignite has won more than 100 industry awards since its founding in 2001. Key clients include Amylin Pharmaceuticals, Bausch & Lomb, Cephalon, Eli Lilly and Co., Genomic Health, Gilead Sciences, Merck Publishing, Novacea and Valeant Pharmaceuticals.
"Ignite Health has built a unique platform for connecting pharmaceutical brands with patients, caregivers and healthcare providers using electronic communications such as online advertising, disease education, customized games, blogs, podcasting and online communities," said Blane Walter, president and CEO of inVentiv Communications. "We're very pleased to add their capabilities to our existing suite of services."
"Ignite Health is distinct from other healthcare agencies because we combine deep therapeutic expertise with an understanding of how to engage and educate people through a variety of interactive channels," said Jackie Herr, CEO of Ignite Health. "Joining with inVentiv Health will enable us to maintain our focus, while also providing us with access to a broader range of talent and resources that will allow us to better serve our clients."
About Ignite Health
Ignite Health is a new breed of advertising agency with a fresh approach to healthcare marketing and communications. By complementing highly focused print strategies with a wide range of tailored electronic strategies - from online advertising and patient education to custom-engineered games and simulations - the company helps clients meet their objectives with unparalleled effectiveness and efficiency. For more information, visit www.ignitehealth.com.
About inVentiv Health
inVentiv Health, Inc. is the leading provider of commercialization and complementary services to the global pharmaceutical, life sciences and biotechnology industries. inVentiv delivers its customized clinical, sales, marketing and communications solutions through its three core business segments: inVentiv Clinical, inVentiv Communications, and inVentiv Commercial. inVentiv Health works with over 200 pharmaceutical and life sciences clients, including all of the top 20 global pharmaceutical companies. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health's performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; our ability to compete successfully with other services in the market; our ability to maintain large client contracts or to enter into new contracts; and, our ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by inVentiv Health, Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
CONTACT: Investors or Corporate, John Emery, CFO, +1-732-537-4804,, Media, Felicia Vonella, +1-212-308-7155,, both of inVentiv Health, Inc.; MarciaFrederick of inVentiv Communications, +1-614-543-6281
Ticker Symbol: (NASDAQ-NMS:VTIV)
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Posted: February 2007