Snyder Splits Communications and Healthcare Marketing ServicesSales and marketing services company Snyder Communications Inc. announced last week it will spin off its Snyder Healthcare Services Inc. subsidiary into a publicly traded company.
In tandem with that move, Eran Broshy was named CEO of the new spin-off. Broshy was formerly a partner at the Boston Consulting Group.
Snyder Communications reported revenues of $815.3 million last year from interests in direct marketing, advertising and Internet-based professional services providers through agency arms like Arnold Communications, circle.com, Bounty SCA Worldwide and Brann Worldwide.
After the split, which is scheduled for the second half of 1999 pending approval, Synder Communications will limit itself to advertising, direct marketing and Internet-based services, and Snyder Healthcare Services will proffer its marketing services to life sciences and pharmaceuticals companies.
At Snyder Healthcare Services, Broshy will be charged with growing the company in the competitive market for outsourced marketing services to pharmaceutical clients.