StockMarketWire.com - Cello Group (AIM: CLL), the healthcare and consumer strategic marketing group, has announced the acquisition of Worldwide Promedica, a San Francisco based market research firm serving pharmaceutical and biotechnology companies.

Promedica will form part of Cello Health, and will work closely with Cello Health Insight in London, New York and Chicago to continue the development of the offer to the large number of its global clients.

The initial consideration is $700,000 payable in cash, with a maximum of $1.8m payable as deferred consideration dependent on financial performance in the period to 31 December 2017.

Up to 50% of the deferred consideration is potentially payable in shares at the sole option of Cello.

Stephen Highley, chairman of Cello Health, commented: "We're delighted to warmly welcome Promedica into Cello Health. This experienced and talented team will now open up capacity on the West Coast of America where we are seeing significant activity from both pharmaceutical and biotechnology clients."




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