Chime Buys Control of Healthcare Data Firm HWL

UK marcoms group Chime Communications has acquired a 51% share in Harvey Walsh Limited (HWL), a company which provides market access and data services to the pharmaceutical industry and the NHS. Chime has paid an initial consideration of £2.19m for the stake.

Runcorn, Cheshire-based HWL offers a range of analysis and business intelligence services to help clients improve patient care. These include data analysis and informatics, scenario modelling, budget impact models and service re-design.

In addition, the firm is a licensed provider of HES data (hospital episode statistics), which cover hospital admissions and outpatient attendances in England. This data is available in monthly extracts powered by HWL's bespoke health intelligence tool Axon.

For the 14 months ended 31 December 2011, HWL reported turnover of £1.6m and operating profit of £517k. Chime has bought the share from HWL's co-owners Sue Beecroft and Julia Wilkins with £2.1m in cash and a second amount of £90k in cash, representing a total of 51% of HWL's working capital. A further amount of up to £1.9m may be payable depending on HWL's trading performance in 2012 and 2013.

Following completion of the deal, Beecroft and Wilkins will continue to develop HWL as part of Chime's healthcare division, OPEN Health.

Chime's Insight and Engagement division includes agencies Opinion Leader Research, Facts International, acefieldwork, CaucusWorld, Naked Eye, Brand Democracy, Tree, and recently formed Watermelon Research.

Web sites: www.chime.plc.uk and www.harveywalsh.co.uk .