HEALTHCARE communications consultancy Pegasus has been bought for £16.8 million by FTSE 250 group UDG Healthcare plc.

Based at Sovereign House, Brighton, Pegasus will join Ashfield Healthcare Communications, which is part of UDG's commercial and medical services division.

The deal is worth an initial of £10.1 million with an additional £6.7 million payable based on the achievement of agreed profit targets over the next three years.

Pegasus founder Lisa Bradley will step into the role of chairman, with deputy managing director Simon Hackett taking over as managing director.

The multi award-winning communications consultancy was founded in Worthing in 1992, moved to Brighton two years ago, and employs 100 staff.

Lisa Bradley, Pegasus chairman, said: “It is very exciting to be joining UDG Healthcare and Ashfield at this new stage in our development.

“We know they are the right cultural fit for our agency and they share our passion for delivering innovative campaigns across healthcare.

“Joining Ashfield will increase the breadth and depth of services we offer to our clients and will provide our staff with the opportunity to acquire new skills.

“More than ever before, Pegasus is one of the most exciting places for a career in communications, digital marketing and social media strategy.”

Pegasus is known for campaigns around ‘inspiring healthy decisions’ and is a recent winner of Consultancy of the Year awards from PR Week and Communique - as well as receiving more than 30 campaign and workplace awards in the last two years.

In the 2016 PR Week League Tables is rose from 38th position to 28th, making it the second largest healthcare PR consultancy in the UK and the largest PR consultancy outside of London.

It primarily works in the UK, and its client list includes global pharmaceutical companies, public sector healthcare organisations, pharmacy and retailers, animal health brands, healthy beauty products, and food groups.

David Moore, Director at Ashfield Healthcare Communications, said: “This is a strategically important acquisition for UDG Healthcare and Ashfield.

“It strengthens our existing communications offering and broadens our capabilities in patient and consumer communications programmes, as well as corporate reputation and crisis management for our growing client base.

“Pegasus is leading the market in the way it creates and delivers integrated solutions for its clients and we look forward to adding their expertise to our fast-growing portfolio of specialist healthcare agencies.”