Intouch Group’s anticipated sale to Eversana is official, with the two networks formally announcing the deal on Wednesday morning.
Kansas City, Kansas-based Intouch appears to have fetched at least $950 million, as first reported by PE Hub, translating to roughly 19x EBITDA.
The acquisition is expected to close by year’s end, but the two organizations are set to begin working together immediately. Together, the combined companies claim more than 40 global locations and 5,500 employees worldwide.
Both networks declined to comment.
Intouch founder and CEO Faruk Capan will reportedly join the leadership team of the combined organization, next to Eversana CEO Jim Lang. No layoffs are anticipated and, at least for now, Intouch’s nine agency brands — Intouch Solutions, Intouch Proto, Intouch Seven, Intouch International, Intouch Media, Intouch B2D, Intouch Analytics, Intouch Market Access and Intouch Oxygen — will not be eliminated.
Last year Intouch saw revenue grow to $220 million, a 21% gain from the prior year, on the back of 52 account wins and 18 new clients. They included Astellas, Clarus, Greenwich Biosciences and Seattle Genetics, according to MM+M’s 2021 Agency 100.
Eversana’s flagship agency — Eversana Engage, which debuted in 2020 — saw revenue rise to $51 million last year, an 18% jump over the $43.1 million its predecessor agencies (which included The Access Group and Patient Experience Project) generated in 2019.
Eversana’s Intouch acquisition continues a torrid pace of deal-making in the pharma marketing sector, buoyed by a steady flow of private equity funding to the sector. One of a new breed of small to midsize agency networks that have been in heavy growth and acquisition mode over the last few years, Eversana is backed by PE groups Water Street Healthcare Partners and JLL Partners.
Intouch adds to Eversana’s growing stable of merged companies, which also includes Alliance Life Sciences, Dohmen Life Science Services, Health Strategies Group, Triplefin, Seeker Health, Alamo Pharma Services, Cornerstone Research Group, HVH Precision Analytics and Alkemy Partners.