Weber Shandwick is selling its healthcare specialist agency Revive to BPD, a healthcare-focused marketing agency and a portfolio company of private equity firm WindRose Health Investors.
The decision came after “extensive conversations this spring and summer,” with the transaction expected to close in November, Weber Shandwick North America CEO Jim O’Leary said in a memo to staffers seen by PRWeek. Financial terms of the deal were not disclosed.
“We are confident that BPD is the right owner to ensure Revive can recognize its full forward potential,” O’Leary said.
O’Leary said Weber Shandwick’s health growth strategy is focused on scaling its pharmaceutical client portfolio while it diversifies into other high-growth, high-margin areas like corporate health, public health and health policy.
“This focus is critical to our continued success,” O’Leary said.
Weber parent holding company Interpublic Group won a significant assignment from Pfizer this year to handle its product PR, as well as serving as its lead creative network, after a wide-ranging pitch.
A portfolio review Weber Shandwick conducted this summer found that, “while Revive is the leading agency in its sector, its focus on health systems sits outside of our core business,” O’Leary said.
In February, Revive named Chris Bevolo CEO, replacing Joanne Thornton, who left the firm last October. Last month, Revive hired Marian Dezelan and Kristen Wevers to work part-time on what the agency labeled a “CMO SWAT team.”
Revive’s leadership team will stay the same, a Weber Shandwick spokesperson said. The firm has 75 employees.
The deal will not affect Weber staffers or clients, an agency spokesperson said.
Revive, part of The Weber Shandwick Collective, was acquired by Weber Shandwick in 2016. Originally known as ReviveHealth, the agency simplified its branding in September 2021.
The Nashville-headquartered firm is part of the Weber Shandwick Collective. IPG’s PR firms also include Golin, DeVries Global and Current Global. The PR firms in Interpublic Group’s Specialized Communications and Experiential Solutions segment registered mid- to high-single-digit growth on an organic basis in Q2, up from mid-single-digit growth in Q2 2022.
Weber posted 5% revenue growth last year to $915.6 million, including 5% growth in the U.S. to $546 million, according to PRWeek’s Agency Business Report 2023.
This story was updated to correct that Revive is part of Weber Shandwick Collective.
This article originally appeared on PRWeek US.