 |
Huntsworth is acquiring an 80 percent stake in Navience Healthcare Solutions for $24M and will fold the market access/payer shop into its Evoke healthcare communications offering.
Princeton-based Navience recorded revenues of $6.4M in 2017 and profits of $3.8M.
"The influence of the payer, in the medical decision-making process and to the success or failure of any given product in today’s healthcare landscape, cannot be overstated,” said Reid Connolly, Evoke CEO, in announcing the deal.
Navience founder John Shamsey will helm the rebranded Evoke Navience. He'll report to Connolly, who called the acquisition "an ideal fit."
Huntsworth's $24M outlay for the 80 percent stake is subject to adjustment for working capital and deferred compensation requirements based on earnings for the two-year period ended Dec. 31, 2019. The total consideration is capped at $40M.
The UK firm may acquire the remaining 20 percent of Navience subject to put and call rights that are exercisable beginning in 2022. The acquisition price for full-ownership of Navience is capped at $94M.
Evoke has more than 550 staffers in New York, Philadelphia, Chicago, Los Angeles, San Francisco and London.
Binaytara, the Bellevue, WA-based nonprofit dedicated to improving access to cancer care and fostering scientific research, has appointed FINN Partners as its global PR firm.
Jeffrey Sturchio is joining Finn Partners’ health policy and impact group as senior advisor to counsel clients on the issues shaping global health and innovation access.
A breakthrough is not successful merely because it works. It succeeds when people and health systems can actually use it.
Jim Weiss, founder & chairman of Real Chemistry, has joined the board of ICR Inc. as it steps up its healthcare capital markets offering.
Ruder Finn has hired Kelly Yoder, who spent a dozen years at Weber Shandwick rising to North America health lead, as managing director, global head of health & life sciences.
