InVentiv Health Acquires Addison Whitney
CenterWatch has been watching for years the goings on at Somerset, N.J.-based inVentiv Health. The billion-dollar company is on another buying spree and we’ve been interested in what it continues to do in the contract research space. In March 2006, inVentiv bought Synergos, a clinical services provider with expertise in clinical trial management services, including project management and monitoring as well as investigator and patient recruitment. Synergos, which was purchased for $5.75 million in cash and stock plus earn-outs, operates under inVentiv’s clinical division.
inVentiv’s latest acquisition on May 31 is Addison Whitney, a global branding consultancy that focuses on creating unique corporate and product brands. Addison Whitney will operate within the inVentiv communications division, which provides integrated healthcare marketing and communications solutions. Financial terms of the transaction were not disclosed.
Founded in 1991, Addison Whitney offers a range of capabilities to create, renew and strengthen brands, including an expertise in generating names that reflect the brand's identity and meet regulatory requirements. Addison Whitney Healthcare, the company's healthcare division, works with clients including Bristol-Myers Squibb, Novartis, sanofi-aventis, Eli Lilly and Co., Pfizer, Takeda, Boehringer Ingelheim, Wyeth, and Cephalon. The company also supports branding strategies for consumer goods and high technology companies in its non-healthcare division.
Blane Walter, president of inVentiv Health said, "Addison Whitney Healthcare is an industry leader in partnering with pharmaceutical and biotech companies to create strong, recognizable identities for their products. Their expertise in developing brand names, along with their long-standing customer relationships and their ability to serve clients very early in the product lifecycle will directly complement and broaden the suite of offerings within inVentiv Communications."
Upon the close of the transaction, Addison Whitney will become a wholly-owned subsidiary of inVentiv Health. The Addison Whitney brand will remain and the business will operate within the inVentiv Communications division under the leadership of William O'Donnell, who was recently named president and chief operating officer of inVentiv Communications.