Evoke is planning to acquire market access and payer marketing firm Navience Healthcare Solutions, the agency said on Thursday.
Evoke parent company Huntsworth Health is paying $24 million for the New Jersey-based firm, which provides market research, market access, analytics, and payer marketing services. The deal is expected to close early next month.
Navience principal John Shamsey, who founded the agency in 2010, will continue to lead the firm after the acquisition is complete, serving on Evoke’s leadership team and reporting to CEO Reid Connolly. The firm will be renamed Evoke Navience.
The Navience deal would add 25 staffers to Evoke.
“Market access and payer marketing is so important and a growing part of our business,” Connolly said. “We wanted a much more substantial focus in that area. Patients and physicians are always gonna be hugely important, but payers and consumers have more of say now than ever before. It was our goal to bulk up our expertise and our weight in the payer space and help our clients navigate the complex payer landscape.”
Connolly said the recent acquisitions and reorganization have turned Evoke into a company that can serve as a one-stop shop for pharma clients.
“It’s important that we can work with a client across consumer, commercial, payer, PR, media, U.S., and global,” he said.
In 2017, Navience reported $6.4 million in revenue, more than double its sales in the previous year.
Evoke also acquired San Francisco-based creative and HCP marketing agency Giant in July for $72.2 million.
Evoke reorganized its structure in August, doing away with individual agency names and going to market under one brand. The group was reorganized into six areas of focus: professional marketing, consumer and patient marketing, market access, PR and influence, media, and consulting.
Representatives from Evoke could not be immediately reached for additional comment.