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Snyder to spin off health care business

Published on .

Bethesda, Md.--Snyder Communications announced Wednesday that it will spin off its health care marketing services business to create a new publicly traded company, Snyder Healthcare Services. The new company will be one of the largest in out-sourced pharmaceutical marketing services, with an estimated 24% worldwide market share. It is expected that shares of Snyder Healthcare Services will be distributed to existing stockholders of Snyder Communications in a non-taxable distribution during the second half of this year. The shares are to be listed on the Nasdaq market. Eran Broshy has been named CEO of Snyder Healthcare Services.
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