Holmes Report 30 May 2012 // 11:00PM GMT
MUNICH--Waggener Edstrom has acquired Munich-based healthcare consultancy Patzer PR.
The deal sees Patzer's 10 staff members added Waggener Edstrom's Munich presence, effectively doubling its size. Wag-Ed declined to disclose of the value of the acquisition.
Established in 2007, Patzer PR is one of Germany’s top 15 leading healthcare communications agencies. The agency’s expertise ranges from marketing, scientific communications and political communications to press and media relations.
Patzer, said Wag-Ed EMEA MD Chris Talago, will retain its branding "in the short-term". The firm's clients include Medice, Astellas and Gilead.
The investment in Patzer PR is latest step in Wag-Ed's global expansion strategy, which has seen recent growth into markets such as Australia, India, Korea and South Africa, through a combination of acquisition, equity investment and wholly-owned offices.
Wag-Ed has 18 wholly-owned offices with an additional 80 markets serviced through its Global Alliance Network.
“Germany is a center of innovation for the healthcare market, and the industry is projected for continued growth and expansion,” said Melissa Waggener Zorkin, CEO, president and founder of Wag-Ed. “This acquisition is a natural progression for our Munich office and global healthcare practice."