A 100-strong healthcare communications consultancy which was founded in Brighton in 1992 has been snapped up by a FTSE 250 group in a deal worth up to £16.8m.
UDG Healthcare plc has acquired Pegasus Public Relations for an initial sum of £10.1m with an additional £6.7m payable, based on the achievement of agreed profit targets over the next three years.
Pegasus will join Ashfield Healthcare Communications, which is part of UDG Healthcare's Ashfield Commercial and Medical Services division.
Pegasus is a recent winner of Consultancy of the Year awards from PR Week and Communique and has also received more than 30 campaign and workplace awards in the last two years.
The board of Pegasus will now report to David Moore, director at Ashfield Healthcare Communications.
Lisa Bradley, which founded Pegasus in 1992, will step into the role of chairman, following the department of previous chairman Tim Adams. Simon Hackett will take over the role of managing director.
David Moore said: "This is a strategically important acquisition for UDG Healthcare and Ashfield. It strengthens our existing communications offering and broadens our capabilities in patient and consumer communications programmes, as well as corporate reputation and crisis management for our growing client base."
Lisa Bradley added: "Joining Ashfield will increase the breadth and depth of services we offer to our clients and will provide our staff with the opportunity to acquire new skills."
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