Accenture buys ConcentricLife for $245M
NEW YORK, UNITED STATES — Accenture has agreed to acquire ConcentricLife, a healthcare marketing agency, for $245 million in cash.
ConcentricLife will join Accenture’s creative arm, Accenture Song, to expand its capabilities in healthcare and life sciences.
Founded in 2002, ConcentricLife has over 270 employees and expertise in rare diseases, healthcare, and wellness marketing. The New York-based agency works with major biopharma companies and was named Agency of the Year by Med Ad News in 2022.
Accenture Song CEO David Droga said acquiring ConcentricLife will “create a powerful capability to shape the future of health experiences and provide a truly compelling proposition for our clients.”
ConcentricLife CEO Ken Bagasse Jr. said partnering with Accenture Song will enhance their ability to “solve new patient and provider challenges in high-impact areas including access, clinical trials, and patient services.”
The acqusition comes as the global healthcare market is projected to reach $665 billion by 2028, according to Verified Market Research. Zooming into the global healthcare BPO market, Technavio projects the sector to expand by $12.9 billion by 2027.
ConcentricLife was formed earlier this year by merging Concentric Health Experience and Scout Health, previously part of Stagwell.
Stagwell said the sale will help pivot to its core digital services and strengthen its balance sheet.
ConcentricLife will expand Accenture Song’s presence in key markets like Atlanta, Chicago, London, and San Diego.
Recent Accenture Song acquisitions include Fiftyfive5, The Stable, and Romp.
The acquisition is subject to regulatory approval. Both companies expect it to close by early 2024.
Accenture is a global professional services company, ranked #1 in the Time Doctor OA500, an index of the world’s top 500 outsourcing companies.
