After buying four agencies in the last three years that specialize in using data and AI, Real Chemistry has done it once again.
The 2022 MM+M Agency 100 honoree’s first acquisition of 2023 is ad-tech firm TI Health. The deal was announced Wednesday morning and terms were not disclosed.
TI Health’s offerings include predictive analytics, data marketing and personalized omnichannel messaging for HCPs and patients. The 13-year-old company’s 50 data and healthcare ad-tech professionals are spread between offices in New York City and Santa Monica, California. No layoffs are planned.
It’s the first M&A move in nearly a year for Real Chemistry, which is backed by private-equity firm New Mountain Capital. The last one was April 2022’s buyout of AI shop ConversationHealth. Swoop and IPM.ai joined the Real Chemistry portfolio in 2021, a year after 21Grams, Starpower and Symplur came on-board.
The new company will be integrated into Swoop and go to market under the Swoop brand. The intent is to marry TI Health’s HCP solutions with Swoop’s highly precise DTC audiences, spawning a fully unified HCP and DTC system of engagement for healthcare marketers.
Erin DeRuggiero, formerly TI Health’s CEO, will become chief digital officer for Swoop, reporting to company president Scott Rines.
“Historically, HCP and DTC advertising have functioned independently, engaging physicians and patients separately despite a common objective of increasing awareness of new therapies designed to improve health,” said Rines in a statement about the acquisition.
With the two working in tandem, the goal is for marketers to cut down on waste and take advantage of opportunities for coordinating among clinical, endemic and non-endemic environments.
In her role as CDO, DeRuggiero will be tasked with developing targeting and analytics products that leverage the best of both TI Health and Swoop. She will also lead strategic enterprise partnerships.
“Reaching HCPs has become harder than ever with the decline of face-to-face engagement and the oversaturation of non-personal promotion,” said DeRuggiero in the statement.
The firm’s personalized omnichannel messaging for HCPs is designed to help marketers break through the noise.
As it connects its system to TI Health’s insights platform, Swoop plans to launch four new products: HCP programmatic activation, HCP social media engagement, HCP TV planning and activation, and HCP targeting with hospital/IDN affiliation and payer data.
Real Chemistry posted global revenue of $270 million in the first half of 2022, up 21% from the same period of last year, the agency said last September.