London-based healthcare agency OPEN Health is buying up U.S. medical communications firm The CM Group as it looks to broaden its geographic reach.
"The CM Group provides us with a significant scientific communication offering within the U.S. domestic marketplace,” said OPEN Health CEO Rob Barker in a press release.
The CM Group is made up of three integrated business units: decile.ten, a boutique agency that has a focus on drug launches; the Px Group, which partners with life sciences companies and patients to “infuse the patient perspective into all programs and communications”; and Scientific Commercialization, which provides consulting and analytic software services to medical affairs units within life sciences.
The deal's financials weren't disclosed, but the agency is buying CM from NaviMed Capital, a Washington, D.C.-based and healthcare-focused private investment firm. "Our journey with The CM Group began with a strong foundation, which enabled acquisitions and expansions that further entrenched its market position across US scientific communications,” said Bijan Salehizadeh, M.D., co-founder and MD of NaviMed.
“Our clients are global and need providers who understand not only the increasing complexity of the science but also the ever-changing global and local landscapes,” Barker added.
OPEN's purchase of CM comes less than a month after OPEN Health was itself snapped up by European private equity firm Astorg, which bought it from middle-market private equity investment firm Amulet Capital Partners for an undisclosed fee.
The Astorg deal was finalized in mid-July, but the agency will keep its leadership structure in place. The agency has around 1,000 employees, with businesses in the U.K., Asia and across several major U.S. cities.
In addition, just a week before the CM Group buy, another life sciences agency deal was announced. In late July, the Deerfield Agency bought out Verge Scientific to deepen its earlier offerings in the healthcare communications cycle.
And OPEN Health has been busy on the M&A front. Last year, the company added to its repertoire by buying up two U.K.-based agencies: Ark, a London-based firm focused on data-driven, digital-first healthcare campaigns, and medical communications agency Spirit. Both were bought last summer.