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About Huntsworth Health Corporation

Huntsworth PLC has a thing or two to say about healthcare. The company provides communication services for the healthcare industry, including communicating evidence on drug breakthroughs, marketing new approved drugs to clients' customers, and providing live experiences and interactive content. Its three main healthcare-focused businesses are ApotheCom, Evoke, and The Creative Engagement Group. It also offers communications services under the Grayling, Citigate Dewe Rogerson, and Red brands, such as advisory services on public affairs, investor relations, and consumer marketing. The company maintains an international presence on nearly 30 countries across the UK, Europe, and the US. Nearly 55% of the company's total sales comes from the US.

Operations

Huntsworth has four operating businesses: marketing, medical, immersive, and communications. The first three comprise Huntsworth's Healthcare divisions.

Marketing business (generates more than 40% of Huntsworth's sales) carries out post-approval marketing of drugs to payers, healthcare professionals, and consumers. It trades primarily as Evoke and its customers are mostly based in the US.

The Medical segment accounts for beyond 15% of total sales and provides communications on developments in the scientific and drug development communities. It also educates healthcare professionals and payers on appropriate use of therapy. Medical's primary trading name is ApotheCom.

Huntsworth's Immersive segment, doing business as The Creative Engagement Group, accounts for about 15% of sales. It provides live experiences, communications, and interactive content.

The Communications segment generates around 30% of sales consists of the brands Red Consultancy, Grayling, and Citigate Dewe Rogerson. Red offers public relations and digital and content expertise. Grayling is an integrated communications network, covering public relations, investor relations, and public affairs. Citigate Dewe Rogerson is an international financial and corporate public relations consultancy.

Geographic Reach

London-based Huntsworth operates 50 offices in nearly 30 countries. The US is Huntsworth's biggest market at nearly 55% of total sales. Its home market of the UK accounts for more than 30%, the rest of Europe over 10%, and the rest of the world generates the remainder.

However, the geographical spread of Huntsworth's activities is not even across the globe. Its activities in the US are heavily weighted towards marketing, while in the UK and Europe the communications business dominates.

Sales and Marketing

Huntsworth provides marketing and medical communications services to healthcare clients, which are primarily large and mid-size pharmaceutical and biotech companies.

Financial Performance

Note: Growth rates may differ after conversion to US Dollars.

Huntsworth's revenue was £264.9 million, up £39.9 million from £225 million in the previous year. Geographically, US contributed the highest revenue, comprising 53% of the company's revenue in 2019.Cash and cash equivalents at the end of the year were £23.4 million, almost the same value from 2018. Cash provided by operating activities was £46.9 million. Investing activities and financing activities used £36.6 million and £10.1 million, respectively. Main cash uses were acquisition of subsidiary, and repayment of lease liabilities.

Strategy

Huntsworth has a culture which incentivizes the creation of new capabilities, and its businesses are constantly challenged to think about what they do and why. Close links are also encouraged between the agencies to develop cross-selling and cross-fertilization. The company is focused on broadening its offering into fast-growing areas. The acquisitions of KYNE and Creativ-Ceutical made during the year have strengthened the company's offering in a number of key areas, including PR and influence, evidence generation, and regulatory marketing. Over the course of 2020, Hunstworth expects to continue to add to its service offering, primarily through organic development, but it will consider targeted smallscale M&A to the extent it is consistent with the company's leverage targets.

Mergers and Acquisitions

In mid-2020, The Creative Engagement Group (TCEG), Huntsworth's immersive division, announces the acquisition of Cormis. The acquired company is a strategic communications and training consultancy for the pharmaceutical industry that has a UK office in Surrey and an US office in Philadelphia. The combination of Cormis with the other consultancies in the group, Axiom, Forty1 and Logicearth, enables TCEG to provide an even greater scientific centre of excellence and customer propositions around marketing, commercial and sales, employee engagement, strategic communications and digital training. 

In early 2020, The Creative Engagement Group (TCEG), The company's immersive division, acquired Belfast-based company Logicearth Learning Services. Logicearth Learning Services supports blue-chip companies to drive business performance from within through leading digital learning solutions. The acquired company will work closely with Axiom and Forty1 to provide a full suite of employee engagement and training options for clients.

In mid-2019, Huntsworth announces the acquisition of 70% of Crea¬vCeu¬cal SARL (CC), a Luxembourg company, from 100% shareholder Avicenne Invest SA, for an ini¬tial cash considerati¬on of €15.5 million, and the acquisition of 85% of Kyne Communicati¬ons, LLC and Kyne Communicati¬ons Limited through direct and indirect interests (together, KYNE) for an ini¬tial cash considerati¬on of $17.4 million. The company also announces a successful placing raising gross proceeds of £16.3 million (Placing) to part-fund the acquisitions, with the balance (approximately £12 million) to be funded from existing debt facilities. Both businesses substan¬tially expand Huntsworth's healthcare offering and it also demonstrate commitment to supporting the changing needs of pharmaceutical and biotech clients. 

Huntsworth Health Corporation

1 S Broad St Ste 1200
Philadelphia, PA 19107-3427
Phone: 1 (215) 625-0111

Firm Stats

Employer Type: Privately Owned
Regulatory Operations Coordinator: Madeline Jones
Senior Director Client Services and Analytics: Kelly Malloy
Client Executive: Yasmin Sheikh
Employees (This Location): 110
Employees (All Locations): 130

Major Office Locations

Philadelphia, PA

Other Locations

San Francisco, CA