Huntsworth Plc, a London-based public relations and healthcare communications group, has acquired Tonic Life Communications for £3 million in cash.
Huntsworth Plc, a London-based public relations and healthcare communications group, has acquired Tonic Life Communications for £3 million in cash.
Tonic was acquired from founders Scott Clark, Oliver Parsons and Moira Gitsham. Clark and Parsons will join Huntsworth Health’s PR operations. Tonic generated revenues of £3.3 million in 2008, and pre-tax profits of £600,000.
Sally Withey, CEO of Huntsworth, commented: “We believe that the acquisition of Tonic will further strengthen our Huntsworth Health offer which now constitutes approximately 27 per cent of revenue. The company expects to meet management’s profit expectations in the first half of this year and with 86 per cent of forecast revenue committed for 2009, we remain confident in respect of our full year result.”
Huntsworth reported an increase in revenue of 4.5 per cent to £159.1 million in 2008, with pre-tax profits up 9.9 per cent to £24 million.