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WPP buys MDS
WPP Plc, through its New York-based subsidiary Sudler & Hennessey, has acquired a 60 per cent stake in China-based healthcare agency MDS. The terms of the deal were not disclosed.
The acquisition continues Jersey-based WPP's strategy of expanding its operations in China. The company currently employs 11,000 people (including associates) across Greater China. The company reported an increase in revenues of 21 per cent to £7.5 billion, with pre-tax profits up 3.8 per cent to £747 million.
Founded in 2007, MDS operates in both Shanghai and Beijing and employs 50 staff. MDS generated revenues of RMB 8.8million (£798,000) in 2008.
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