inVentiv Health acquires Kazaam Interactive
inVentiv Health, a global provider of clinical, commercial and consulting services to the healthcare industry, has acquired Kazaam Interactive, a Newton, Penn.-based full-service digital marketing agency offering digital strategy and solutions healthcare agencies and brands.
Kazaam Interactive will become part of inVentiv Health Communications, the public relations and advertising group within inVentiv's commercial segment. The acquisition will broaden inVentiv's ability to provide clients with comprehensive digital solutions from strategy through execution and will augment its digital expertise across multiple businesses.
"Demand for digital and social media solutions has expanded rapidly among our clients as physicians, patients and payers have grown more technically savvy," said Paul Meister, CEO of inVentiv Health. "Kazaam Interactive helps us to meet this growing demand with digitally-based programs that have been proven to deliver value. The combination of Kazaam's cutting-edge technology with inVentiv Commercial's broad expertise in healthcare PR and communication will result in fully-integrated and powerful solutions for our clients."
The acquisition of Kazaam Interactive will be fully funded with equity from funds affiliated with Thomas H. Lee Partners, L.P. (THL) and other existing stockholders. THL, along with Liberty Lane IH and other co-investors, acquired inVentiv in August 2010.
"inVentiv is well-positioned to capture additional market share through its range of products and services. THL's equity funding for the Kazaam acquisition reinforces our commitment to working with the senior leadership team at inVentiv to strengthen its position,” said Todd Abbrecht, managing director of THL. “We will continue to work closely with the company to develop additional opportunities to maximize the global market opportunity for their expanded service offering."