NEW YORK—Communications holding company Creston, which owns U.K. public relations firms Nelson Bostock and Red Door Communications, has entered into a conditional agreement to acquire New York-based healthcare public relations firm Cooney/Waters, its healthcare advocacy subsidiary, Alembic Health Communications.
When the transaction is completed, Cooney/Waters Group will operate as part of the company’s Creston Health division, a family of health communications firms that includes Red Door—which two years ago form The Health Collective Network in partnership with CWG and specialists in other key international markets—as well as medical education, advertising and digital firms.
“The proposed acquisition by Creston represents the next stage of growth for the Cooney/Waters Group, enhancing our capabilities and bringing innovation to our clients’ brands and organizations both in the U.S. and internationally,” says Lenore Cooney, founder and chairman, who adds that the deal will offer “strong synergistic and operational benefits both for Cooney/Waters and Creston.”
The Cooney/Waters and Alembic will remain with Lenore Cooney as chief executive officer reporting to Creston. Timothy Bird has been appointed president and chief operating officer to lead the firm's business development, international expansion, and day-to-day operations, and will be a member of the Creston Health board.