Omnicom Health Group has confirmed the acquisition of Archbow Consulting. The acquisition adds an important consultative service layer to the healthcare marketing and communications company.
Established in 2017, Archbow has carved a niche for itself, helping pharmaceuticals and biotech companies design and optimize market access operations. Its team, led by Douglas Bock, DeWayne Manning, and Kevin Cast is to join Omnicom Group Inc (OMC) and continue leading the company.
Archbow is to operate under the Entrée Health network. Commenting on the acquisition, Omnicom Health CEO Ed Wise reiterated that Archbow’s market access operations should complement the company’s value and access capabilities.
“We’ve admired Archbow Consulting and their team from a strategic and a cultural perspective, and I know that together we will create a stronger offering for our clients. [..]. I am thrilled to find a partner so aligned with our mission—that everyone deserves access to the healthcare they need,” stated Andrew Gottfried, CEO, Entrée Health network.
Omnicom Health shares are up 26% year to date after a 23% slide in 2020. (See Omnicom Group stock analysis on TipRanks).
In March, JPMorgan’s analyst Alexia Quadrani reiterated a Buy rating on Omnicom Group Inc. The analyst also increased her price target from $76 to $88, implying 11.9% upside potential to current levels.
Overall, Omnicom Group commands a Moderate Buy consensus rating among analysts on Wall Street. One analyst maintains a Buy rating on the stock while two rate it as a Hold. The average analyst price target of $77 implies 2.06% downside potential to current levels.
Omnicom Group scores a strong 8 out of 10 on TipRanks’ Smart Score rating system. This implies that the stock is well-positioned to outperform the overall market.
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