Addison Whitney Joins inVentiv Health, Global Pharmaceutical Services Company
Charlotte, NC; June 1, 2007 – Addison Whitney® LLC announces its decision to join inVentiv Health, Inc. (NASDAQ: VTIV). Addison Whitney will operate within the inVentiv Communications division, which provides a full suite of integrated healthcare marketing and communications solutions. Financial terms of the transaction were not disclosed.Addison Whitney Healthcare, the company's healthcare division, works with a wide array of clients which include Bristol-Myers Squibb, Novartis, sanofi-aventis, Eli Lilly and Co., Pfizer, Takeda, Boehringer Ingelheim, and Wyeth. With over fifteen years of experience the organization has offered FDA and EMEA regulatory consulting with a keen focus on building strong brand identities. The validation studies conducted by the market research team confirm the work that is done by the verbal, visual and brand strategy departments.
Blane Walter, President of inVentiv Health said, “Addison Whitney Healthcare is an industry leader in partnering with pharmaceutical and biotech companies to create strong, recognizable identities for their products. Their expertise in developing brand names, along with their long-standing customer relationships and their ability to serve clients very early in the product lifecycle will directly complement and broaden the suite of offerings within inVentiv Communications.”
Addison Whitney has also developed and will continue to build its non-healthcare division by providing solutions for a range of Fortune 500 companies. Leading consumer brands from Honda, Bank of America, Olive Garden, 3M, Microsoft along with organizations in a variety of industries have called upon the services to create, renew and strengthen brands.
“Our dedication to building strong brands has enabled us to grow Addison Whitney into one of the top full-service brand identity consultancies in the world,” said Clayton Tolley, President and CEO of Addison Whitney. “The partnership with inVentiv Health will provide Addison Whitney with the resources to expand our operations into the European and Asian markets. Clients, from the various industries we serve, can expect to see this deal as a means to leverage all resources to provide a comprehensive brand consultancy with a global presence.”
As part of inVentiv Health, Addison Whitney will have the ability to tap into inVentiv’s operations domestically and internationally to expand client relationships. Addison Whitney’s headquarters and senior executives will remain in Charlotte, North Carolina.
Following the close of the acquisition on June 1, Addison Whitney became a wholly-owned subsidiary of inVentiv Health. The Addison Whitney brand will remain and the business will operate within the inVentiv Communications division under the leadership of William O’Donnell, who was recently named President and COO of inVentiv Communications.
About inVentiv Health
inVentiv Health, Inc. (NASDAQ: VTIV) is the leading provider of commercialization and complementary services to the global pharmaceutical, life sciences and biotechnology industries. inVentiv delivers its customized clinical, sales, marketing and communications solutions through its three core business segments: inVentiv Clinical, inVentiv Communications and inVentiv Commercial. inVentiv Health currently works with over 200 unique pharmaceutical, biotech and life sciences clients, including all top 20 global pharmaceutical companies. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health's performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; our ability to compete successfully with other services in the market; our ability to maintain large client contracts or to enter into new contracts; uncertainties related to future incentive payments; and, our ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
For more information, please call Lizzy Guterma at 704-697-4055 or lizzy.guterma@addisonwhitney.com or visit www.addisonwhitney.com.
About Addison Whitney
Addison Whitney is a global full-service brand consulting firm. Founded in 1991, the firm has extended its services to offer branding expertise in the areas of verbal branding, visual branding, brand strategy, and research and analysis. Clients come to Addison Whitney from industries including: consumer, technology, business to business and other market segments. Addison Whitney health, a specialized healthcare division of Addison Whitney, serves the branding needs of pharmaceutical, biotechnology, life science, and medical specialties. For more information, visit www.addisonwhitney.com.
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