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Cello Buys Pharma Specialist Red Kite
UK-based insight and consulting company Cello Group plc has announced the acquisition of pharmaceutical specialist Red Kite Consulting Group Limited, which will be merged with Cello's existing pharma consulting business, MSI.
Godalming, Surrey-based Red Kite was founded in 1999 and advises clients including major pharma manufacturers on marketing strategy and market access. Founder Jonathan Dancer will now join the Board of MSI as Managing Partner.
Last month Cello, which says it aims to becoming a leading global health services company, announced the acquisition of US-based MedErgy HealthGroup Inc.
Stephen Highley, Group Corporate Development Director for Cello, says Red Kite is 'a well established brand in the pharmaceutical space' and the acquisition further reinforces the Group's strong position in the healthcare market.
Last month Cello reported flat revenue for the year 2010 (£59.9m), but also a return to operating profit of £5.5m from a 2009 loss of £1.5m. Gross profit in the research and consulting division - which in addition to MSI includes Leapfrog, 2CV, MRUK, RS Consulting and Insight Research Group - rose 3.6% to £36.9m.
Web sites: www.cellogroup.co.uk and www.redkiteconsulting.com .
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