Digitas Inc. said it agreed to buy Medical Broadcasting Co., Philadelphia, in a cash-and-stock transaction of $30.4 million that is expected to close this quarter after winning regulatory and shareholder approvals.
The acquisition strengthens Boston-based Digitas in the growing healthcare and pharmaceutical interactive marketing space. Medical Broadcasting is a leading healthcare interactive marketing agency, focused on creating integrated programs for pharmaceutical, biotechnology and medical devices accounts. The agency generated fees last year of $23 million to $25 million.
Medical Broadcasting offers interactive marketing strategy, Web analytics, Web development, search engine marketing, video production, relationship marketing, creative design and online media planning and buying.
Medical Broadcasting keeps its name and identity, operating as the third unit of Digitas. The Digitas portfolio includes its namesake agency and Modem Media, one of the oldest interactive agencies nationwide. All 140 employees of Medical Broadcasting keep their job, including top managers David Kramer and Linda Holliday.