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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.
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.
ICR has named John Capodanno head of US healthcare corporate communications and Matthew Willey managing director in its medical technology and diagnostics practice. 
April is National Minority Health Month, spotlighting the urgency to improve health outcomes in communities of color.
In a recent conversation about the evolving media landscape, Doug Simon, CEO of D S Simon Media, spoke with Campbell O’Connor, Group Director, Media & Engagement at Real Chemistry, about how AI is influencing media relations and healthcare communications.
