Cello Group acquires iS Healthcare Dynamics

13th May 2014 10:56

Marketing firm Cello Group announced it has acquired healthcare communications agency iS Healthcare Dynamics for 2.5m pounds.The Edinburgh-based agency, which specialises in online marketing, has purchased the medical communications company in order to expand its healthcare division. The group will pay £2m of the cost in cash with a balance issue of 567,376 new ordinary shares.The company will pay additional payments of up to £3.3m which is dependent on the performance over the period to December 31st 2016. iS is expected to join the group's healthcare sector along with pharmaceutical group, Mash Health, which the firm acquired in the beginning of the year.Chairman Stephen Highley said: "Effective evidence based communications is a key imperative for our clients. "iS adds significant strength and expertise in this area and complements Cello's previous acquisitions. The acquisition of iS provides us with a significant global footprint in medical communications."As of 11:43, Cello's share price had risen 2.81% to 90p.WS