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Omnicom Unit Forms DDB Health & Appoints Josh Prince CEO

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Omnicom Group Inc. (OMC - Free Report) , the world’s leading advertising, marketing and corporate communications company, recently announced that its healthcare segment, Omnicom Health Group, has created DDB (Diagnostic Devices Branch) Health. This new unit will combine several professional healthcare agencies across the U.S. and Europe to form a forceful healthcare network.

About DDB Health

DDB Health, a part of Omnicom Health Group, will offer deep insights into customers, channels, and behavior, and assist in creating meaningful change on behalf of important healthcare brands.

Combining Omnicom’s expertise in medical and healthcare service with DDB's rich heritage, this network looks to utilize creativity as a force for better health.

Per Ed Wise, CEO of Omnicom Health Group, DDB has a creative heritage and its state-of-the-art technology has helped clients to innovate and grow.

Geographical Reach of DDB Health

The DDB Health unit merges two of Omnicom Health Group’s award winning agencies, AgencyRx and Flashpoint Medica. These two agencies have been integrated into a U.S.-based unit which will function together in New York and San Francisco. However, this unit will have a global reach, bringing together the talents of DDB Health Germany, DDB Health Paris, and Synergy, a medical education offering with offices in London and Philadelphia.

Josh Prince Named CEO

Alongside, Josh Prince has been named the CEO of DDB Health. In addition to this role, Prince will occupy the office of the Chief Marketing Officer of Omnicom Health Group. Prior to this, Prince had served CDM Group (Cannes Lions Health 2015 Healthcare Network of the Year), as President for 29 years. He was the former co-founder of HealthWork, an award-winning DTC joint venture between BBDO (Batten, Barton, Durstine and Osborn) and CDM. Prince was awarded Industry Person of the Year by Med Ad News, in 2015.

Leveraging Prince’s rich professional expertise, Omnicom’s DDB Health is likely to profit in the times to come. The company has an advanced technologically innovative outlook, supported by clients who embrace such innovations willingly. Given this, the company is well positioned in solving complex problems for doctors, patients, and brands alike.

Healthcare Market Boom

Per the Global Forecast of the 2020 research report, the Healthcare IT market is expected to grow at a CAGR of 13.4% from 2015–2020. A greater part of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to regulatory requirements laid down by authorities for ensuring safety, security, and confidentiality of patient information.

Recently, Omnicom’s healthcare unit announced that it is in the process of acquiring BioPharm Communications – a leading communications agency that focuses on the development and multi-channel operation of proprietary marketing programs.

Omnicom’s Healthcare segment is currently focused on strategic organic and inorganic growth. Based on the market research report, it will be well positioned to improve revenues in the quarters ahead.

Omnicom carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth a look include US Ecology, Inc. (ECOL - Free Report) , ExamWorks Group, Inc. and ABM Industries Incorporated (ABM - Free Report) . All three stocks carry a Zacks Rank #2 (Buy).

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