Money Syner buy-out to create UK’s biggest healthcare agency
pharmafile | October 28, 2003 | News story | |
Global healthcare communications agency Euro RSCG Life has acquired Money Syner Communications to create what it says will be the UK biggest healthcare advertising agency.
Euro RSCG Life is the healthcare division of Euro RSCG Worldwide, itself part of the global parent company Havas, estimated by Med Ad News to be the third biggest global healthcare communications company.
The new healthcare division will be called Euro RSCG Life MSC and will have a combined client roster including GlaxoSmithKline, Merck Sharp & Dohme, Novartis, Roche and Schering Plough.
The acquisition of MSC for an undisclosed sum is the latest development in a wave of mergers and acquisitions in global communications companies, following WPP recent takeover of the struggling Cordiant group, which includes the Healthworld Communications Group.
Founder and Managing Director of Richmond-based MSC John Syner says he was careful to sell the business to a company who would be a good business fit.
"We always believed that if we sold the company it would be to a strategic partner who shared our vision, core beliefs and passion for client service. We are delighted to be part of broader, globally-focused assignments."
Independent healthcare communications companies are under increasing pressure to offer global marketing services, as the pharma companies adopt global branding strategies and reduce the number of their partner agencies worldwide. At the same time, a continuing slump in advertising across all sectors, including healthcare is fuelling increased M&A activity among the media conglomerates.
Euro RSCG Worldwide Chief Executive Ron Pantello said the acquisition was in line with the company new 'power of One' programme to align its disparate 44 health-focused offices in 16 different countries around the world.
"We are very excited about the opportunity Money Syner grants Euro RSCG Life in Europe, as they have a great client base many of whom they share and will instantly make us more competitive in growing our existing business and securing new global accounts."
A recent Pharmafocus survey of the UK's top 20 advertised pharma brands showed MSC to have the biggest single share of the leading campaigns, with four accounts;
Merck Sharp & Dohme Vioxx and Arcoxia, Pfizer Lipitor and Novartis' Diovan
Adding these to Euro RSCG Life two entries in the chart MSD Cozaar and UCB Xyzal makes the combined agency a clear leader in the top 20.
Commenting on the acquisition, Michel Nakache, Chief Executive, Euro RSCG Life Europe said: "Money Syner Communications should make us the largest healthcare advertising agency in the UK and will double Euro RSCG Life presence in the UK. This represents a major development in the skills and talents available to our clients, creating a competitive advantage in the UK."
One of the few remaining major UK independents is understood to be considering creating a global network of independent healthcare agencies as an alternative to the trend towards consolidation.
