Spectrum Science, an independent, integrated healthcare and scientific marketing, communications, and media firm focused on the pharmaceutical, biotech, and broader life sciences industries, announced the acquisition of CrowdPharm, a full-service healthcare advertising company and its partner consultancy, Hot Iron Health. Details of the transaction were not disclosed.
The acquisition solidifies Spectrum’s growing work in promotional engagement and advertising, and formally establishes Spectrum’s strategic advertising and consulting pillar, leveraging CrowdPharm’s disruptive delivery model to help clients meet today’s marketing challenges with more impact and efficiency. The acquisition also brings Hot Iron Health’s strategic advisory and consulting services to bear for clients navigating a complex market. The advertising and consulting pillar will be led by Mike Myers, Managing Director and Partner of CrowdPharm, who will serve as president and lead day-to-day operations.
“We are delighted to welcome the extraordinary CrowdPharm and Hot Iron Health teams and their powerful, one-of-a-kind model to sourcing talent and servicing clients in a bespoke fashion, at incredible pace and value,” said Jonathan Wilson, CEO of Spectrum. “In today’s evolving market, health and life science clients can’t afford to stick with the status quo. They need strategic and creative solutions that are fast, effective, and resourceful. With Spectrum’s newly established advertising and consulting pillar built on the backbone of our strategy, innovation, and creative capabilities, now fueled by CrowdPharm and Hot Iron Health’s pioneering approach, we can bring the transformational solutions our clients need to break through in today’s market.”
This acquisition enhances Spectrum’s current capabilities in several critical ways, including expanding the firm’s existing client base, as well as adding key advertising and consulting talent to its roster.
“We are incredibly proud of our team and the company that we’ve been able to build. Since day one, we’ve been focused on offering an evolved approach to healthcare marketing that enables clients and their brands real-time access to the abundance of strategic and creative talent around the world,” says Mike Myers, Managing Director and Partner of CrowdPharm. “Critical to our success has been a commitment to both innovation and evolution in service of our people and for our clients. Joining the Spectrum team means that we can continue to provide game-changing, strategic advertising and consulting solutions on an even larger scale to more clients around the world.”
This is the first acquisition Spectrum has completed since its strategic partnership with Knox Lane earlier this year. The addition of CrowdPharm and Hot Iron Health’s capabilities strengthens Spectrum’s fully integrated suite of strategic services, including marketing, communications, medical communications, clinical trial recruitment and retention, and consulting. The acquisition also provides access to more than 8,300 members of the CrowdPharm and Hot Iron Health global talent network.
