UDG Healthcare plc has today announced that it has acquired STEM Marketing, the leading global provider of commercial, marketing and medical audits to pharmaceutical companies to join the Ashfield Division.
STEM is a global business offering services across 35 countries including the US, EU, Japan and China and its customers include 18 of the top 20 largest pharmaceutical companies. STEM’s unique service uses a proven, evidence based methodology to quantify and benchmark organisational alignment and quality of execution to create practical action plans to accelerate brand performance.
The acquisition significantly expands Ashfield’s service offering and capabilities in the commercial and clinical services market and complements Ashfield Healthcare Communications global offering. It is in line with UDG Healthcare’s strategy to grow both organically and via acquisition with a focus on high growth areas.
Commenting on the announcement, Brendan McAtamney, Chief Executive of UDG Healthcare plc said:
“STEM is an excellent strategic fit for UDG and is wholly aligned with our global growth strategy of expanding our market leading positions providing services to the pharmaceutical sector. The acquisition of STEM, a business with an established global footprint and strong growth opportunities, will enable us to provide new services to our clients, which are highly complementary to those already delivered by our Ashfield business.
We place great emphasis on cultural fit when looking at potential acquisition opportunities and STEM comes with an excellent management team, which will become an important part of our client offering and the wider UDG Healthcare Group.”
Commenting on the announcement, Rob Wood, Chief Executive of STEM said:
“We are delighted to begin an exciting new chapter for STEM as part of the UDG Healthcare Group. We wanted a partner who would help us to accelerate our global performance. Our new working relationship with UDG will not only facilitate geographic expansion but will also enable further client offerings and most importantly provide our employees with broader career options and widen our talent pool.”
For more information, please contact Lucy MacLauchlan, Divisional Head of Marketing on +447917 264626.