Until recently, Huntsworth’s (HNT) transition into a healthcare communications business has – remarkably – been entirely organic. But management has been on the look out for a business to boost the healthcare platform it has created. Enter Giant Creative Strategy, a US-based healthcare marketing company which Huntsworth has bought for $72.2m (£55.5m), paid out of its existing debt facilities.
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Giant made $7m in adjusted cash profits last year and broker Numis has added £1.7m of pre-tax profits to its forecasts to account for the acquisition. Giant will expand Huntsworth’s reach in the world’s largest healthcare market, where demand for communications services is growing rapidly alongside the increased competition in the market.
