According to the company, Vynamic is being acquired for an initial consideration of $22m, with an additional consideration of up to $10m payable over the next three years, if agreed upon profit targets are achieved.
Philadelphia-headquartered Vynamic provides various services including brand strategy, planning and launch, product design and implementation, business intelligence and analytics, among others.
The deal marks UDG’s first management consultancy acquisition and supports Ashfield’s strategy to expand its advisory services, the company said.
"[Vynamic] has a heavy emphasis in life sciences sales and marketing, while also providing consulting to health plans, providers, and healthcare technology companies," a UDG Healthcare spokesperson told us. "The acquisition by UDG Healthcare of Vynamic will create tremendous value for clients and employees including creating new career opportunities for employees in a culture that aligns with the Vynamic values."
The spokesperson explained Ashfield's acquisition strategy is to accelerate growth in the US and build scale across several service areas, including management consulting for the healthcare industry.
"UDG Healthcare see the advisory and consulting sector as a key area for expansion, having identified the insight and advisory sector as a fast growing market. Vynamic fits perfectly into this strategy," they added.
Ashfield, UDG’s commercialization services division, also purchased STEM Marketing, a commercial, marketing and medical audit provider, in October 2016.