Benzinga | Apr 14, 2021 10:03AM EDT

Omnicom Health Acquires Archbow Consulting For Undisclosed Sum

* Omnicom Group Inc's (NYSE: OMC) healthcare marketing and communications unit Omnicom Health Group announced Archbow Consulting's acquisition. The financial terms of the transaction were not disclosed.

* Archbow helped pharmaceutical and biotech companies design, build and improve market access operations, product distribution, and patient access hubs.

* Archbow founders Douglas Bock, Kevin Cast, and DeWayne Manning will continue to lead the company as part of the Omnicom Health Group's Entr?e Health network.

* Archbow's distribution, patient services, and operational expertise added a vital new consultative service to Entr?e's offering, stated Entr?e Health network CEO Andrew Gottfried.

* Omnicom Group held cash and equivalents of $5.6 billion as of Dec. 31, 2020.

* Price action: OMC shares traded higher by 0.46% at $78.94 on the last check Wednesday.