GTCR, Bashe to form healthcare agency

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Private equity company GTCR Golder Rauner, Chicago, is joining with Gil Bashe, former CEO at WPP Group's Common-Health, to create a new healthcare marketing services company. The new entity, with $60 million in equity financing, will launch next month and position itself as an alternative to healthcare shops that are part of larger consumer agency groups. Mr. Bashe's previous employer has $1.1 billion in billings, and its clients include Schering-Plough Corp.'s Claritin, the top spending direct-to-consumer prescription drug. Mr. Bashe left CommonHealth, Parsippany, N.J., last Friday. His responsibilities will be taken by three newly named managing partners: Matt Giegerich, president of the Quantum Group and the Xchange Group; Phil Brady, president of Thomas Ferguson Associates; and James Clifford, president of Adient and Health Learning Systems. The trio also keep their previous titles. A spokesman said the team approach was being used to "get closer to our clients and not have a lot of structure."

Copyright December 1999, Crain Communications Inc.

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