Accenture set to acquire healthcare marketing agency ConcentricLife
Global consulting giant, Accenture (NYSE: ACN), has inked an agreement to buy ConcentricLife, a renowned healthcare marketing agency known for aiding Life Sciences brands. This acquisition, involving the subsidiary of Stagwell (NASDAQ: STGW), is pivotal in augmenting Accenture Song’s mission of delivering integrated solutions catering to its Life Sciences clientele by aligning with the changing dynamics of patients and healthcare professionals today.
ConcentricLife’s Prominent Market Position
Established in 2002, ConcentricLife has earned its stripes as a member of the MM+M Agency 100, a credible index spotlighting the crests in the health sector. With an award-winning team on its roster, ConcentricLife prides itself on its in-depth knowledge of rare diseases and healthcare wellness. Their expansive marketing expertise has magnetized some of the planet’s foremost companies in the biopharma sphere.
Accenture to expand portfolio with acquisition of ConcentricLife. Photo courtesy of ajay_suresh/Wikimedia Commons.
A Harmonized Vision for the Future
David Droga, at the helm of Accenture Song, opined, “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.”
The synergy between Accenture Song and ConcentricLife is palpable, especially when delving into creative marketing and strategic consultancy crucial for pharmaceutical and biopharma brands. This collaboration is even more resonant given projections from Verified Market Research forecasting the global healthcare market’s surge to a whopping US$665 billion by 2028.
What ConcentricLife Brings to the Table
Operating from its headquarters in New York and boasting a robust workforce of 270+ professionals spread across global hubs like Atlanta, Chicago, San Diego, and London, ConcentricLife’s prowess lies in its comprehensive digital healthcare marketing. The agency’s multifaceted expertise spans experience design, engagement, commercial strategy, and more.
Ken Begasse Jr., leading ConcentricLife, remarked, “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.”
On the Acquisition Trail
This acquisition of ConcentricLife joins the list of strategic purchases Accenture Song has championed to enhance its capacity in aiding clients with growth and innovation, inclusive of entities like Fiftyfive5, The Stable, and Romp. The finalization of this deal hinges on standard closing protocols, including securing regulatory green lights.