Accenture to Acquire ConcentricLife to Bolster its Healthcare Marketing and Communications Capabilities for the Life Sciences Industry

Rhea-AI Summary

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.

Positive

• Accenture's acquisition of ConcentricLife will strengthen its capabilities in healthcare marketing and provide a compelling proposition for its Life Sciences clients. The global healthcare market is expected to grow to US$665 billion by 2028, creating significant opportunities for Accenture.

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• None.

NEW YORK--(BUSINESS WIRE)-- 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.

Accenture 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. (Photo: Business Wire)

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.

Forward-Looking Statements
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. These risks include, without limitation, risks that: Accenture and ConcentricLife will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions; the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions, including the invasion of Ukraine by Russia, the related sanctions and other measures that have been and continue to be imposed in response to this conflict, as well as the current inflationary environment, and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to match people and skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 733,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.

Copyright © 2023 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025436020/en/

Julian McBride

Accenture

+1 917 244 9398

julian.mcbride@accenture.com

Source: Accenture

FAQ

What is Accenture acquiring?

Accenture is acquiring ConcentricLife, a healthcare marketing agency.

What are the benefits of the acquisition?

The acquisition will enhance Accenture's capabilities in healthcare marketing and provide a compelling proposition for its Life Sciences clients.

What is the expected growth of the global healthcare market?

The global healthcare market is expected to grow to US$665 billion by 2028, according to Verified Market Research.