Spectrum and Aurora, a U.K.-based consultancy, have worked together for years as part of Global Health Marketing and Communications (GHMC), a network of independent health and science communications agencies founded and chaired by Spectrum. The two companies will operate under the GMHC brand going forward.
Aurora will retain its brand identity and leadership team. Co-founder Neil Crump becomes chief growth officer of GHMC, while co-founder Claire Eldridge remains Aurora CEO.
The deal continues Spectrum’s acquisition binge, following the June acquisition of Sonic Health and The Seismic Collaborative. All three acquisitions were financed by Monroe Capital.
Spectrum CEO Jonathan Wilson said that the Aurora addition introduces new capabilities to the agency.
“They’re focused on patients and advocacy,” Wilson noted. “They bring that strength to what we offer as an agency. When we looked at what we’re doing and the amount of work we’re doing together through the network that we’ve built, it just made a lot of sense.”
As for near-term challenges related to record-high inflation and the looming potential for a recession, Wilson said that the industry has a track record of robust performance during turbulent economic times. He added that ongoing innovation in the biopharma sector affords agencies numerous opportunities from a strategic perspective.
GHMC president Tim Goddard added that the familiarity and trust between the two brands, as well as a mutual commitment to long-term relationships, drove the leaders to pursue a deal.
“We know we can service work in a global way,” he said. “Many of our competitors don’t collaborate that way, so we’re entering this acquisition from a place of excitement based on that well-established relationship and history of success.”
Per the MM+M 2022 Agency 100, Spectrum saw revenue jump 49% during 2021, to $48.9 million.