Sector News

Icon buys MediMedia Pharma Solutions for $120 million

February 2, 2015
Life sciences
Ireland-based Icon is to acquire MediMedia Pharma Solutions for $120 million, creating “the industry’s leading integrated scientific communications and market access solution”.
 
The Yardley, Pennsylvania-based company is a division of MediMedia USA and is being sold by Vestar Capital Partners. The deal includes MediMedia Managed Markets and Complete Healthcare Communications. The former provides “strategic payer-validated market access solutions”, while the latter is an agency which works with medical affairs, commercial and brand development teams within life science companies.
 
Icon chief executive Ciaran Murray said “the need to demonstrate and communicate the value of new medicines is an important global healthcare trend” and the acquisition of MediMedia Pharma Solutions “deepens the expertise” of the company’s existing operations “and brings us outstanding scientific and medical communications capabilities”.
 
The deal comes days after Icon announced plans to create 200 new jobs as part of a new global innovation hub in Ireland, with the posts split between Dublin and Limerick.
 
By Kevin Grogan
 
Source: Pharma Times

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