WPP acquires stake in MDS, China
06 Jun 2009
WPP yesterday announced that its wholly-owned global healthcare marketing and communications network, Sudler & Hennessey, has agreed to acquire, a 60-per cent stake in MDS, a leading healthcare agency in China.
The deal is subject to customary regulatory approvals.
Founded in 2007, MDS operates in both Shanghai and Beijing. The agency employs 50 people and its clients include Bayer, Pfizer, Sanofi-Aventis, Sanofi-Pasteur and Schering Plough.
This investment continues WPP's strategy of developing its networks in fast-growing and important markets and sectors and demonstrates the groups commitment to developing its business in China.
Greater China, a region WPP has been devoted to for over 20 years, remains one of the fastest growth markets for the company, generating revenues of over $800 million (including associates).
WPP Group currently employs 11,000 people (including associates) across Greater China, underlining its strong leadership position in the region - as in Asia overall - across all communications services.
