Evolution Medical Communications (EMC) entered 2018 with a single priority atop its list: growth. Whether in terms of revenue, staff roles, services offered or new business, the agency hoped to sustain the momentum it generated during 2017, a year that saw revenue jump by 28%.
EMC stuck the landing, growing revenue from $24.5 million to $32 million, a jump of almost 31%. It added 17 full-timers to increase its total to 120.
“We added some new functions and capabilities, and we’re continuing to expand on those. I think that’s contributing to the healthy growth in our numbers,” says Carolyn Vogelesang Harts, one of three EMC managing partners.
Change extended to the agency’s parent company, Evolution Health Group. In August, it launched Maestro360, a specialty division focused on managing meetings, events, speaker programs and conventions. Additionally, it devoted considerable time and energy in 2018 to hiring talent for blulava, an innovation lab launched in April 2019.
“We are being asked to do much more high-level strategic work,” Harts notes. “That’s in line with our blulava service offerings, such as running internal meetings and workshops with executives to help them evaluate key business decisions.”
For its part, EMC added consumer capabilities to its service mix. Paired with its existing proprietary digital and strategic consulting offerings, the agency found itself able to do more work “leveraging tech platforms and supporting companies by managing conference events and KOL engagement planning,” says managing partner Andrea Lanzetta.
Notable staff arrivals included chief growth officer Marina Jean, who joined EMC from Harrison and Star. The agency also introduced two new roles, chief medical officer and director of business strategy. The former was filled by Leo Francis, formerly of Avadel Pharmaceuticals, and the latter by Thomas Draime, formerly of his own consultancy.
It was a solid year on the client side. EMC increased both its number of AOR engagements (from 15 to 18) and project-based assignments (from nine to 18). Seventy percent of revenue came from existing clients, with growth from Biogen (on failed Alzheimer’s drug aducanumab), AstraZeneca (on diabetes drug Farxiga and hyperkalemia drug Lokelma) and Lundbeck (on dizziness drug Northera) ranking among the highlights. The agency no longer works with Genentech on lung cancer drug Tecentriq or with Verastem Oncology on lymphocytic leukemia/lymphoma drug Copiktra.
Despite the gains of the past few years, Lanzetta says EMC has taken pains not to get ahead of itself. The goal for 2019 is another 30% increase in revenue, but with an eye on ensuring that the growth doesn’t overwhelm its people.
“We want to make sure we’re staying relevant by not only coming up with new innovative ideas, but also evolving and elevating our strategic acumen so we can be a better partner,” she says.
From the July 01, 2019 Issue of MM+M - Medical Marketing and Media
