Maja Pawinska Sims 21 May 2019 // 8:39AM GMT
NEW YORK — Evoke Group, part of Huntsworth, has bought health communications specialist Kyne to create a 100-strong global healthcare agency. Under the terms of the deal, Huntsworth has acquired 85% of Kyne for an initial cash consideration of $17.4 million.
Kyne and Evoke PR & Influence, Evoke’s existing communications business, will join forces to create a new, integrated global agency, Evoke Kyne. The executive team will include leaders representing both agencies, led by Kyne CEO and founder David Kyne (pictured) as CEO. He will report to Evoke CEO Reid Connolly, while Maryellen Royle, president of Evoke PR & Influence, becomes a partner in the new structure.
Connolly said: “We have two like-minded, fast-growing agencies, each with envy-inspiring client rosters and portfolios coming together to create one of the largest, geographically diverse and most compelling agencies in the space today. Kyne’s reputation in the industry, the quality of their work, their relationships, their people and their culture are no doubt the driving forces behind their success, and are what make them such a great fit.
“As our clients look for integrated solutions to their most pressing health challenges, our ability to be the single partner able to help them navigate the complexity of today’s market is more critical now than ever before. Evoke Kyne has the expertise, scale and agility our clients need to succeed. We couldn’t be happier to have David and his team become part of the Evoke family.”
Kyne has offices in Dublin, London, New York and Los Angeles, and works with foundations, non-profits, government organizations and biopharmaceutical companies to address global health issues. The agency reported revenue of $10.4 million, as per the Global Top 250, and an operating profit of $1.3 million in 2018.
Kyne, who founded the agency in 2009, told the Holmes Report: “[Huntsworth CEO] Paul Taaffe was my CEO at H+K when I was head of healthcare in New York and I always loved working with him. And I loved the idea of founder-led businesses coming together and keeping that independent spirit. Culturally it’s been a really easy fit from the beginning. Maryellen is fantastic and I’m looking forward to working with her and Reid. It’s time for us to step up and I’m really happy to be leading the new business.”
He added: “Reid and the Evoke team have built one of the most impressive agency groups in the marketing and communications sector. They’ve built their reputation from their roots in digital and have been leaders and disrupters in every space they’ve entered since. Evoke PR & Influence is an incredibly respected agency and one we’ve admired for years. I have great ambitions for what we will accomplish as one team. Together with our clients, we can take on the world’s most pressing health issues, helping improve and save lives around the globe.”
At the same time Huntsworth has made another healthcare acquisition, buying 70% of Luxembourg-based strategic market access, health economics and outcomes research consultancy Creativ-Ceutical (CC) for an initial cash consideration of €15.5 million. The business will sit within the group’s medical division and will continue to be led by founder Pr Mondher Toumi.
Huntsworth CEO Paul Taaffe said: ““We are delighted to welcome CC and Kyne into the Huntsworth Group as both businesses substantially expand our healthcare offering. CC brings health economics and market access to enhance the scientific evidence capability of MEDiSTRAVA, our medical division. Kyne brings an expanded capability in healthcare public relations and patient advocacy to the Evoke Group to support additional briefs from global clients. These acquisitions demonstrate Huntsworth’s commitment to supporting the changing needs of pharmaceutical and biotech clients.”