Advertising conglomerate WPP is to add another piece to its empire with the acquisition of a controlling stake in Mind Resource Healthcare Consulting, an independent healthcare communications agency in Hong Kong.
The acquired company, which offers event planning, production services and public relations consultancy services to the pharmaceuticals sector, will be integrated into Ogilvy Public Relations Worldwide.
WPP did not disclose the price it is paying for the stake but it did reveal that Mind Resource's revenues for the year ended 31 December 2010 were around HK$16.3m, and that it had gross assets of around HK$10.2m at the end of 2010.
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