PDI agrees to sell Its commercial services business to Publicis Healthcare Communications
PDI Inc (Nasdaq: PDII) said it has signed a definitive agreement to sell its commercial services business (CSO) to Publicis Healthcare Communications Group, part of Publicis Groupe (Euronext Paris: FR0000130577) for an initial $33 million.
About $7 million of the initial amount will be contingent upon securing certain CSO client commitments, plus an earnout payment based on 2016 CSO revenue.
Nancy Lurker, chief executive of PDI, said: “Our board of directors believes that this transaction is in the best interest of our clients, our employees, and our stockholders. Our agreement with Publicis Healthcare Communications Group is a win-win situation for both companies and maximizes the value of our CSO business for our stockholders.”
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