Chime Communications announces pH Associates takeover

Chime Communications has agreed to acquire pharmaceutical industry market access and data specialist pH Associates (PHA) in a deal worth 6.92 million pounds.

The company is purchasing PHA from Kate Peperell and Lesley Howell, its owner-directors, who will continue to develop the business as part of Chime's healthcare division Open Health.

Serving clients including Abbott, Janssen, Novartis and Sanofi, PHA is based in the UK and reported revenues of 1.7 million pounds for the business year ending September 30th 2011.

The initial consideration includes 6.07 million pounds in cash and around 850,000 pounds representing working capital of PHA at acquisition that is considered by Chime to be surplus to requirements.

A statement from Chime said: "The acquisition of PHA is a very significant further step in the development of the market access discipline of Chime's healthcare business … Chime expects the acquisition of PHA to be immediately earnings-enhancing."

During the first half of 2012, Chime's operating income grew by 19 percent year on year, thanks in large part to the growing emphasis pharmaceutical companies are placing on medical communications and market access initiatives.