Cello Buy Extends Healthcare MR Capabilities
MR and consulting group Cello has acquired healthcare marketing consultancy MSI, for an initial price of £5.7m, plus up to £7.5m more at a later date depending on performance.
Alongside its consultancy, training and IT solutions services, MSI's MR division Qualitas provides expertise in health economics, branding, qualitative and quantitative research. Cello Chairman, Kevin Steeds says the skill base of MSI complements the group’s established international market research business, Insight.
For the year to 31 May 2006, MSI had a turnover of £2.9m and profits before tax of £300,000. The firm was established in 1994 and is online at www.msi.co.uk . Cello – on the web at www.cellogroup.co.uk – recently announced a 40% increase in pre-tax profits to £5.9m in 2006 (www.mrweb.com/drno/news6578.htm ).