Ogilvy PR Agrees to Acquire Mind Resource to Strengthen Regional Healthcare Communications Capabilities Underscores Confidence in Hong Kong's Growing Healthcare Market
HONG KONG, Dec. 13, 2011 /PRNewswire/ -- Ogilvy Public Relations Worldwide (Ogilvy PR) Hong Kong today announced that it has agreed to acquire a majority stake in the Hong Kong-based healthcare communications firm Mind Resource Healthcare Consulting Limited (Mind Resource), subject to approvals, to target the HK$95 billion (US$12.1 billion)* Hong Kong healthcare industry and further extend its market position in Hong Kong.
The acquisition will help Ogilvy make further inroads into Hong Kong's growing healthcare industry that includes pharmaceuticals, healthcare services and medical devices, where demand has been spurred by the growing affluence and aging of the population. According to Admango, monitored advertising spending of pharmaceuticals & healthcare in the first nine months of 2011 amounted to HK$4,710 million (US$603.8 million).
Founded in 2007, Mind Resource is a leading firm in the highly specialised field of healthcare communications which includes disease awareness, patient education, and medical education. Mind Resource currently represents some of the top multinational pharmaceutical companies, medical associations, medical service providers and professionals.
Janet Yeung, founder of Mind Resource, will retain a minority interest in the company following completion of the transaction and continue to serve as the General Manager of Mind Resource. Mind Resource will become the Hong Kong arm of Ogilvy's global integrated healthcare communications service group OgilvyHealth. Ms Yeung will work with the current senior management team, and OgilvyHealth's newly appointed Regional Director Rohit Sahgal to provide the same level of service that Mind Resource has become known for in this market, with the added advantage of the backing of the Ogilvy group.
*Source: Business Monitor International Hong Kong Pharmaceuticals and Healthcare Report Q3 2011.
"Many global pharmaceutical brands are turning to Asia for growth opportunities. Now more than ever, they need partners who can manage communications outside the U.S. and Europe and have a deep understanding of the local regulatory environment and market nuances. With Mind Resource's strong track record and reputation in the healthcare space, Ogilvy has a new commercial advantage and will continue to build our pre-eminent position in healthcare communications in Asia," said Steve Dahllof, President and CEO, Asia Pacific, Ogilvy Public Relations Worldwide.
"With Hong Kong as a growing healthcare center in the region, we have managed the patient education and market communications for a wide spectrum of clients including medical associations, multi-disciplinary top-notched medical specialists, as well as over 50 leading pharmaceutical brands in Hong Kong since 2007 and carved out a strong position in the market. We now recognise that joining a powerful group like Ogilvy can help us expand and broaden our services in this fast-changing environment," said Janet Yeung, founder of Mind Resource.
This strengthening of Ogilvy PR's healthcare offering comes at a time when Hong Kong has targeted medical services as one of the six identified industries that the Special Administrative Region enjoys clear advantages and has great potential for further development," said Clara Shek, Managing Director of Ogilvy Public Relations Worldwide Hong Kong. "This acquisition reinforces Ogilvy's leadership at just the right time, when few international players have managed to build a sustainable business model in this highly specialised field."
This announcement marks a major healthcare PR acquisition in Hong Kong by an international public relations consultancy network. The clients of Ogilvy and Mind Resource include such healthcare industry heavyweights as Bayer, Boehringer Ingelheim, Glaxo Smithkline, MSD, Novartis, Pfizer, Roche, among others.
About Ogilvy Public Relations Worldwide
Ogilvy Public Relations Worldwide (Ogilvy PR) is a global, multi-disciplinary communications leader operating in more than 80 markets. Named Large Agency of the Year by PRNews and 2011 Digital/Social Media Agency of the Year by The Holmes Report, Ogilvy PR blends proven PR methodologies with cutting edge digital innovations to craft strategic programs that give clients winning and measurable results. Celebrating its 30th anniversary in business, Ogilvy PR provides strategic public relations counsel to a variety of clients across its social marketing, public affairs, healthcare, consumer marketing, 360-degree digital influence, corporate, and technology practices. Ogilvy PR is a unit of Ogilvy & Mather, a WPP company (NASDAQ: WPPGY), one of the world's largest communications services groups. For more information, visit our Web site at www.ogilvypr.com or follow us on Twitter at @ogilvypr.
About Mind Resource
Mind Resource is a full service healthcare consultancy with highly specialised experts in all spectrums of strategic healthcare communications covering press relations, issue management and lobbying, media training for healthcare professionals, consumer communications, advertising, research and digital marketing.
Since its inception in 2007, Mind Resource has grown at an unprecedented pace and is now leading the healthcare PR market in terms of client portfolio, business volume and share of voice in healthcare media reports. Mind Resource's ultimate goal is to set the industry standard for healthcare communications to meet new market challenges and opportunities.
SOURCE Ogilvy Public Relations Worldwide