THE COUNTRY’S largest communications firm outside the capital has been bought for £17 million.

Brighton-based Pegasus, the second largest health care comms company in the country, has been acquired by FTSE 250 listed firm UDG Healthcare plc.

The 100 staff at the multi award-winning integrated communications consultancy will remain at their current home in Sovereign House in Church Street and the firm will retain their name.

The board of Pegasus will now report into Ashfield Healthcare Communications David Moore while Pegasus founder Lisa Bradley will step into the role of chairwoman.

Pegasus is a recent winner of Consultancy of the Year awards from PR Week and Communique as well as receiving over 30 campaign and workplace awards in the last two years.

The company has been operating for more than 20 years as an independent consultancy primarily in the UK market but increasing its involvement in a number of European and global projects.

UDG acquired the Brighton-based agency for £16.8 million, with a £10.1 million initial consideration followed by £6.7 million deferred over a three-year earn-out.

Simon Hackett, Pegasus managing director, said: “We were looking for a like-minded partner that could help us deliver a step-change in the development of our business and UDG Healthcare and Ashfield are the perfect fit.

“While we will be keeping our name, location, great team and compelling mission of ‘inspiring healthy decisions’, all of which have been important ingredients in our success, we will enjoy the benefits of aligning with Ashfield in terms of service offering, talent, business development and global presence.”