MDC Partners acquires majority stake in Concentric Pharma Advertising

MDC Partners (www.mdc-partners.com) announced today that they have acquired a majority stake in leading healthcare and pharma advertising and marketing agency, Concentric Pharma Advertising ("Concentric") (www.concentricpharma.com).  The partnership with Concentric marks MDC Partner's first significant investment in the rapidly growing healthcare marketing sector and positions MDC to offer an integrated healthcare marketing platform that is unique within the industry.  

Named 2011 Agency of the Year by the Med Ad News, Concentric is a full-service, independent, healthcare advertising and promotion agency with a focus on the specialty pharma sector.  Concentric has built a top tier client list that includes Alcon Labs, Allergan, Bayer HealthCare, Discovery Labs, Genentech, LEO Pharma, MAP Pharma, Novartis, Oceana Therapeutics, Pfizer, Roche, Salix, and Wyeth.  Concentric was recently named agency of record for the rheumatology indication of Enbrel from Amgen and Pfizer Inc.

"MDC's approach is to disrupt the status quo by bringing better, more modern sets of solutions to clients – and this is exactly what the deal with Concentric allows us to do in healthcare," said Miles Nadal, Chairman and CEO of MDC Partners.  "Clients in this sector increasingly are seeking to go beyond outdated one-size-fits-all approaches and find true evolution.  The partnership between Concentric and MDC Partners launches a network model that integrates sophisticated multichannel strategies from the most cutting-edge agencies in the world and applies them to the needs of healthcare - using Concentric as the knowledge portal into the industry. This truly collaborative model is unique and is a meticulously choreographed multichannel machine that will revolutionize the promotional offering for our pharmaceutical clients."

"Our partnership with MDC ensures that we remain at the forefront of the dynamic and fast growing healthcare marketing industry," said Ken Begasse, Jr., Co-CEO of Concentric.  "Our shared vision is simple: healthcare marketing needs innovation.  This is why we are reinventing the conventional network model.   By elevating the healthcare experience of Concentric to be the catalyst for the powerful expertise and innovation of MDC Partners, we are eschewing the traditional network focused solely on efficiency and going beyond to deliver true effectiveness for our clients."  

Source:

MDC Partners

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