SNC-here is the company's own "take" on the Friday news
Snyder Healthcare Services, a division of Snyder Communications, Inc. (NYSE:SNC ) a leading provider of innovative marketing services for the life sciences industry, announced it will launch a new name upon completion of the spin-off from Snyder Communications, Inc. The company will be known as Ventiv Health, Inc. when the transaction is completed in late-September.
"I am confident that creating two independent organizations is in the best interest of our clients, employees, and our shareholders, and creating a new name for healthcare company helps us maximize our potential," said Daniel M. Snyder, chairman and CEO of Snyder Communications, and chairman of Snyder Healthcare Services. "After the transaction, Snyder Communications emerges as a leading pure-play provider of direct marketing, advertising, and communication services. Ventiv Health emerges as a leading, pure-play provider of salesand marketing services to the pharmaceutical and life science industry."
Snyder Healthcare Services (Ventiv) offers a broad range of integrated sales and marketing services with clients from leading pharmaceutical, biotechnology, medical device and diagnostic companies throughout the world. Services include - educational programs targeted to physicians, specially-designed strategic marketing plans and actual sales execution through the company"s extensive sales network.
"Our new name is derived from the word inventive, because of our rich history of providing our life sciences clients with innovative sales and marketing solutions," said Eran Broshy, CEO of Snyder Healthcare Services (Ventiv). "We"re all excited about the new name, as it represents another step towards our imminent launch as an independent company focused exclusively on healthcare and life sciences."
Snyder Healthcare Services (Ventiv) recorded $321.5 million in revenue for 1998, generating pre-tax income, exclusive of non-recurring acquisition charges, in excess of $42.6 million. Blue chip clients are all of world"s top 20 pharmaceutical companies, including Abbott Laboratories, Bausch & Lomb, Baxter, Bayer, Bristol-Myers-Squibb, Eli Lilly, Endo Pharmaceuticals, GalxoWellcome, Johnson & Johnson, Merck, Novartis, Pfizer, Pharmacia & Upjohn, Roche, Sanofi, SmithKline Beecham, Warner-Lambert and Yamanouchi. Snyder Healthcare Services (Ventiv) also serves a variety of mid-sized, biotechnology, and emerging pharmaceutical companies. Snyder Healthcare Services (Ventiv) employs approximately 5,000 people worldwide.
Snyder Communications, Inc. is one of the leading providers of integrated marketing communications, interactive services and advertising in the world. Snyder"s Brann Worldwide offers comprehensive direct marketing, database modeling, data warehousing, and other technology solutions. Snyder"s circle.com provides an entire range of interactive capabilities, extending from front-end Internet Website development through to the back-end e-commerce systems. Snyder"s Arnold Communications provides advertising, creative and public relations services through its global network. Snyder"s Bounty SCA Worldwide offers global consumer access and insight through its proprietary channels. Snyder has offices throughout the United States, Canada, the United Kingdom, France, Italy, Hungary, Germany, and the Netherlands. Visit the Snyder Communications Website at www.snyder.com. |
