October 25, 2023
Accenture to Acquire ConcentricLife to Bolster its Healthcare Marketing and Communications Capabilities for the Life Sciences Industry
NEW YORK; Oct. 25, 2023 – Accenture (NYSE: ACN) has agreed to acquire ConcentricLife, a leading healthcare marketing agency with expertise in helping Life Sciences brands build an optimal brand experience at any stage of the health journey. The agreement to acquire ConcentricLife, which is a subsidiary of Stagwell (NASDAQ: STGW), reinforces Accenture Song’s continued investment in creating end-to-end solutions for its Life Sciences clients through relevant communications and experiences attuned to the ever-evolving lives of today’s patients and healthcare professionals.
Founded in 2002, ConcentricLife is recognized as one of the MM+M Agency 100, the industry’s definitive guide to the top agencies in the health landscape. Its award-winning global team has extensive subject-matter expertise in rare diseases, healthcare and wellness, with sophisticated marketing capabilities spanning the organization. ConcentricLife works with many of the world’s most influential companies within the biopharma industry.
David Droga, CEO, Accenture Song said: “We recognize and value the position ConcentricLife has established as a leading healthcare marketing agency and our mutual commitment to healthcare providers, patients, and consumers with a focus on health outcomes. We believe that together with ConcentricLife we will create a powerful capability to shape the future of health experiences and provide a truly compelling proposition for our clients.”
With creative marketing services and strategic consulting services vital to the growth and relevance of pharmaceutical, biopharma and medical technology device brands, Accenture Song and ConcentricLife have an aligned vision of the tremendous opportunity ahead in professional, patient and consumer health communications given the global healthcare market is expected to grow to US$665 billion by 2028, according to Verified Market Research.
ConcentricLife offers full-service digital healthcare marketing and communications expertise and capabilities that help brands answer rising consumer demands in rare diseases, health and wellness. Each of ConcentricLife’s practices revolves around a core of experts in marketing practices, including experience design, engagement, commercial strategy, production, medical communications and social. Clients rely on ConcentricLife to launch their most important brands and improve the brand experience over the entire product lifecycle management. Headquartered in New York, ConcentricLife’s 270+ employees will join Accenture Song in other markets including Atlanta, Chicago, Ft. Lauderdale, San Diego and London.
Ken Begasse Jr., CEO, ConcentricLife said: “Our shared ambition has always been to change the way health is experienced. This transaction will enhance our ability to help our clients achieve this vision in addressing the challenges of tomorrow. With this combined talent of diverse thinking and experiences, we will extend our ability to solve new patient and provider challenges in high-impact areas including access, clinical trials, and patient services.”
ConcentricLife will be the latest in a series of acquisitions that Accenture Song has made to bolster its ability to help clients grow, innovate and sustain relevance, including Fiftyfive5, The Stable and Romp.
Completion of the acquisition is subject to customary closing conditions, including receipt of regulatory clearance.
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. 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