SOMERSET, NJ—Chandler Chicco Agency, the world’s largest healthcare-focused public relations firm, has been acquired by inVentiv Health, which provides a broad range of marketing, sales and clinical trial services to pharmaceutical companies. CCA will retain its current management and will operate as part of the inVentiv Communications division, which provides a full suite of integrated healthcare marketing and communications solutions.
InVentiv will pay $65 million in cash and stock, plus earn-out payments if the firm exceeds specified financial targets. The transaction is expected to close in the third quarter. AdMedia Partners advised on the deal.
Chandler Chicco was founded in 1995 by healthcare public relations veterans Robert Chandler and Gianfranco Chicco, formerly with Burson-Marsteller, and has grown to become the largest specialist firm in what is generally regarded as the most lucrative and least cyclical sector of the public relations industry. Last year it reported worldwide fee income in excess of $35 million, expanding in both the U.S. and Europe and adding new research, public affairs and advertising capabilities.
“In today’s competitive marketplace, our pharmaceutical clients are increasingly turning to public relations to build awareness, credibility and loyalty for their products,” says Eran Broshy, chairman and CEO of inVentiv Health. “Chandler Chicco Agency has established an unmatched reputation in the healthcare PR industry that is distinguished by solid long-term client relationships and an impressive history of growth. Adding CCA to our portfolio of services will significantly expand our PR offering, while also broadening our global capabilities.”
Other inVentiv companies include interactive specialist Blue Diesel; med ed company Cadent Medical Communications; advertising agency GSW Worldwide; and brand consultancy Y Brand.
According to Chandler, “Our successes over the past 12 years have been unprecedented and the next 12 will be, too, because we’re putting into place a smart global growth strategy that will lead us to even greater achievement.” Adds Chicco: “This partnership allows us to scale up globally at warp speed and with greater authority, while maintaining our culture of success.”
The CCA brand and all the other brands that are part of the Chandler Chicco Companies, including Biosector2, BrandTectonics, CCA Advertising, Determinus, Litmus and ‘nition will remain, and Robert Chandler and Gianfranco Chicco will continue to lead the business, reporting into William O’Donnell, president and COO of inVentiv Communications.