Spectrum Science is back with another strategic acquisition of a former MM+M Agency 100 honoree — this time in the world of clinical trial enrollment.
The 2023 MM+M Agency 100 honoree announced Thursday morning that it acquired Continuum Clinical, a clinical trial enrollment company based just outside of Chicago.
Terms of the deal were not immediately disclosed, but Spectrum Science bought the firm from independent marketing agency Blue Chip Worldwide.
Going forward, Continuum Clinical will join Spectrum’s existing clinical trial recruitment (CTR) strategic pillar and Neil Weisman will continue as president of the organization.
Spectrum Science CEO Jonathan Wilson heralded the deal as an opportunity for the agency to expand its presence in the patient recruitment space.
“Today’s announcement has us poised to change the clinical trial recruitment and engagement landscape: together our combined businesses make us one of the largest full-service recruitment providers in the industry—and, even more notably, our shared perspective on the importance of putting patients first, leading with strategic insights that result in bespoke solutions and leveraging proprietary technology to create more frictionless experiences for all stakeholders, has us primed to make transformational impact for our clients and for the future clinical trials,” he said in a statement.
With the backing of private equity firm Knox Lane, Spectrum Science continues to be an active player in the agency M&A arena.
The acquisition of Continuum Clinical comes a few months after Spectrum Science purchased a pair of healthcare agencies: CrowdPharm and Hot Iron Health. That combined company will be led by CrowdPharm managing director and partner Mike Myers, who will serve as president and lead day-to-day operations.
As for Continuum Clinical, Weisman said the firm was excited to join a partner that holds a compatible view of the future of patient recruitment.
“Over the past several years, including with the introduction of MERIS, we’ve solidified our standing as a premier partner supporting both sponsors and patients from protocol development to study completion and beyond. The addition of Spectrum’s foundation of scientific and strategic insights, paired with its flexible and efficient model to deliver show-stopping, needle-moving creative means we can unlock even more value on a larger scale for more clients around the world.”
In its most recent appearance on the MM+M Agency 100 list in 2020, Continuum Clinical recorded a revenue decrease of 21% to $19.9 million in 2019.
