Global Advertising Strategies announced that it is acquiring Prime Access (read press release), to create an independently-owned healthcare marketing agency that focuses on reaching US Hispanic, African-American, Asian-American, LGBT, and other diverse US populations.
Portada caught up with Givi Topchishvili, CEO of Global Advertising Strategies (photo), to talk about the transactions details. One of the key questions is what accounts Prime Access is going to bring to the table. According to Topchishvili, “Prime Access has been working on several multicultural healthcare initiatives, with a dedicated focus on vaccines in the following disease areas: HIV, Human Papillomavirus (HPV), Shingles, and Hepatitis C among others.”
After the acquisition, both agencies will “continue to work on over 30 pharmaceutical products across leading therapeutic categories (cardiovascular, oncology, infectious diseases, vaccines, etc) and some of the world’s largest global brands. Among those are Merck & Co., Inc. and Novartis Pharmaceuticals Corporation.”
Sister Companies within one holding company
Topchishvili adds that “both agencies will continue to operate as sister companies under their respective names within one holding company. Prime Access will house all of the institutional health care and cross-cultural accounts. Global Advertising Strategies will focus exclusively on its growing international marketing and consulting capability. “
Mergers and acquisitions are complex from a legal, financial and organizational standpoint that is why Global Advertising Strategies and Prime Access have enlisted a group of advisers to help them through the process including EisnerAmper LLP and Stikeman Elliott LLP for financial and legal aspects of the transaction, as well as NeoCortex Consulting Group and the A-Team Advisors to assist with proper integration of both teams.