Ka-Ching
A quick agency self-congratulatory note on Scwhartz Communications largest client acquisition ever. Client Cytyc, a medical device company that treats excessive menstrual bleeding, will be acquired by Hologic for $6.2 billion. That is a "b" for billion. Hologic is paying $46.46 per share of Cyctyc, a premium of 33%.
Over the course of nine years Schwartz Communications drove market awareness and adoption for Cytyc's ThinPrep Pap Test among women to detect cervical cancer. Schwartz' public relations efforts created a push-pull effect, raising awareness among consumers while driving physician adoption. These in turn pressured insurance companies to reimburse members for the test. Today the ThinPrep Pap Test is considered by most to be the gold standard test. Just ask Hologic.
Posted by Shawn Whalen on May 21, 2007 at 11:09 AM
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