YFM-backed Fishawack acquires Phocus

The value of the deal has not been disclosed; however, the transaction was supported with additional funding from YFM. This is the third add-on acquisition for Fishawack since YFM acquired it in 2008 and is part of the company's ongoing growth strategy. In 2009, YFM supported the add-on of US-based Nexus, now called Fishawack Communications Inc, followed by the acquisition of Alpha-Plus Medical Communications in 2010.

Acquiring Phocus enables both businesses to increase their breadth of service offering, gives a greater ability to support larger accounts and strengthens their strategic advisory capabilities.

Debt
Co-operative Bank supported the acquisition.

Company
Phocus is based in Basel and is a provider of medical communication services. It was founded in 1995 by Dr Diana Barkley, who will remain with the business and become a shareholder of Fishawack. The company also has a subsidiary in New Jersey, the US.

Fishawack was founded in 2001 and provides medical communications advice and services. The company employs 80 people and is headquartered in Knutsford and Abingdon in the UK and has an office in Philadelphia.

People
Paul Cannings is director at YFM.

Advisers
Equity – Langtons, Dan Jackson, Simon Mills (Corporate finance); Osborne Clarke, Alison Meaken (Legal).
Company – Hill Dickinson, Craig Scott, Mike Murphy (Legal); Vischer, David Jenny (Legal).
Debt – Brabners Chaffe Street, Andrew O'Mahony (Legal).

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• Topics
• UK / Ireland
• Support services
• Expansion
• Acquisition finance
• YFM Group
• Switzerland
• United Kingdom