WPP acquires Element Marketing Group

Adding to its Ogilvy CommonHealth business, WPP has acquired US Company Element Marketing Group, which provides clients in the pharmaceutical and biotech industries with communication, marketing and reimbursement solutions.The newly acquired firm was founded in 2007 and currently employs 30 people from its offices in California. The firm will soon be re branded Ogilvy CommonHealth Market Access.Element's revenues for the year ended 31 December 2013 were US$8.3m with gross assets of US$2.4m as of 31 August 2014.As of 15:36 on Tuesday, WPP's share price decreased 1.74% to 1,189p per share.