GfK continues expansion with SoHealthAsia purchase

by Sam Matthews, Brand Republic 08-Aug-05, 08:00

LONDON – GfK, the German research group that recently bought NOP World for £383m, is continuing on the acquisition trail with SoHealthAsia, a Hong Kong-based pharmaceutical and healthcare research firm.

SoHealthAsia was founded in 2003 and provides research and consultancy services to Asian and international clients in the pharmaceutical and healthcare sectors.

The company specialises in testing new product developments, product positioning, name and brand testing as well as advertising tracking surveys. It also deals with sector organisations in all significant pharamaceutical and healthcare markets in Asia.

Scott Davies, founder of SoHealthAsia, said the acquisition will benefit the company and herald a new phase of growth.

"This will enable us to offer clients a wide range of research services and expand and improve the already high-quality services our clients receive from us," he said.

Wilhelm Wessels, member of the GfK management board responsible for the healthcare division, said: "The acquisition will further strengthen our capacity in Asia, and therefore our healthcare network as a whole."

GfK bought NOP World from United Business Media for £383m in April.

WPP Group and Aegis lost out in the bidding war in the second round, while Taylor Nelson Sofres, Ipsos and VNU made it the final stage.

In May, GfK bought controlling stakes in Chilean and Canadian customer research firms Adimark and Research Dynamics respectively.

The company is now ranked as the fifth largest market research company in the world with sales of €672m (£467m) in 2004.

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