Seven-figure backing for medical communications firm’s acquisition

A Cheshire-based international medical communications group has announced its first acquisition.

Backed by a seven-figure funding package from HSBC UK, Prime Global Medical Communications, based in Knutsford, has acquired Cambridge Medical Communication, increasing its market share in the UK and internationally.

As a result of the acquisition, Prime Global will expand its depth of expertise available throughout the business.

This will also give the firm an important foothold in the Cambridge medical community, as well as increasing its European client base.

The acquisition will take the total number of employees at the business to more than 260 people.

Chairman and chief executive, Graeme Peterson, said: “We’re very pleased to welcome Cambridge Medical Communication to Prime Global. I look forward to working with Jenny and her team.

“Not only is this the next step of our ongoing and successful growth plan, acquiring Cambridge Medical Communications also strengthens our scientific excellence, allows us to establish new offices near Cambridge, one of the largest centres for scientific research in Europe, and expands our European client base.”

The founder and managing director of Cambridge Medical Communication, Jenny Muiry, will maintain her title and become agency lead for Cambridge.

She said: “Becoming part of Prime Global will provide our staff and our clients with access to specialised in-house teams, such as creative, digital and strategy.

“With our shared commitment to deliver excellence and maintain long-lasting relationships with clients, I look forward to working alongside Graeme and the rest of the Prime Global team.”

Zubayr Atcha, relationship director for corporate banking, HSBC UK, Manchester, said: “It’s fantastic to see Prime Global Medical Communications continue to meet its ambitious growth strategy.

“HSBC UK has supported Prime Global for just over 12 months and over this short period the business has clearly demonstrated why it is an internationally-recognised business within its sector. This acquisition signals another impressive stage of Prime Global’s plans.”

Prime Global already has offices in Knutsford, London, New York, San Francisco, Macclesfield, Brighton, and Oxford.

The group of six, now seven, medical communications agencies and specialist consultancies, provides the world’s leading biotech, pharma and healthcare businesses with professional communications services.

The transaction was supported by Robert Danson, deputy relationship director, HSBC UK.

A team from North West law firm Brabners, led by partner Mark Rathbone, advised Prime Global on the acquisition.