PARSIPPANY, N.J., Nov. 4, 2010 /PRNewswire-FirstCall/ -- PDI, Inc. (Nasdaq
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DII - News), a leading provider of integrated promotional outsource services to health care companies, today announced the expansion of its business with the acquisition of Group DCA, a privately held interactive digital communications agency serving biopharmaceutical companies. Excluding transaction costs, PDI expects the acquisition to be cash flow positive immediately and accretive to earnings in 2011.
While the full terms of the acquisition were not disclosed, PDI made an initial payment from its available cash balances. Additional contingent consideration could be paid if Group DCA achieves certain performance targets for the remainder of 2010 and for each of the full years in 2011 and 2012. Additional detail regarding the acquisition will be provided during a conference call today at 10:00 am ET.
The combined entity will be led by Nancy Lurker, Chief Executive Officer of PDI, with Group DCA co-CEOs Jack Davis and Robert Likoff continuing to oversee Group DCA's day-to-day operations. Group DCA will effectively function as a self-standing entity, retaining its name and with its operations and services remaining intact. PDI intends to retain the vast majority of Group DCA's staff, which comprises one of its core assets.