The acquisition positions Unlock Health as the leading growth marketing platform in the health services sector by size, scale, and breadth of capabilities.
NASHVILLE, TENN. – November 28, 2023 – Unlock Health, a unique healthcare technology and services growth platform serving healthcare providers, today announced the acquisition of SPM Group, the premier network of health and healthcare agencies including SPM, GLC, Dreamscape, and Centretek, from Corridor Capital, LLC, a Los Angeles-based lower middle-market private equity firm. Financial terms of the transaction were not disclosed.
The acquisition of SPM Group brings an incredible depth of expertise and marketing capability to the Unlock platform – adding new in-house omnichannel media planning and buying capabilities and strengthening Unlock Health’s services across digital media, content strategy and production, analytics, and creative specialties to establish a unique, growth-focused solution for healthcare providers.
Over the last several years, SPM Group has significantly expanded its full-service offering through the acquisitions of Centretek, GLC, and Dreamscape. This growth has solidified SPM Group’s commitment to fully meeting the marketing and growth demands of its clients, including the execution of Agency of Record engagements and integrated, multi-channel marketing campaigns intended to connect health brands with audiences nationwide.
With the acquisition of SPM Group, Unlock Health is now the largest health services growth marketing platform nationwide, with $100 million in revenue, and 343 professionals serving more than 350 clients across the healthcare provider, behavioral health, dental, and associated sectors.
“Healthcare leaders need creative solutions to drive profitable growth and sustainable performance while navigating the uncertainties and economic pressures of today’s financial landscape,” said Brandon Edwards, Chief Executive Officer of Unlock Health. “The addition of SPM Group to our platform takes the guesswork out of growth and helps us to better support healthcare organizations in maintaining sustainable performance now and in the future.”
“SPM Group has taken tremendous pride in the depth of our offering and the quality and creativity of the work we do for our clients. The Unlock Health team shares our commitment to being a best-in-class provider for our clients,” said Amanda Seaford, Chief Executive Officer of SPM Group. “By joining Unlock Health, our clients will benefit from increased scale and a broader range of market-leading services, managed care consulting offerings, and innovative technologies as they navigate and compete in a rapidly evolving industry.”
Unlock Health was formed in April 2023 through the acquisition of Eruptr, the largest healthcare-focused digital media and Health Risk Assessment (HRA) company in the industry, and DECODE, a national, full-service digital and creative agency focused on healthcare. Since entering the market, Unlock Health has executed its vision as a single source growth partner, combining Eruptr and DECODE with a team of experts in managed care consulting and ROI design. All offerings are now unified under the Unlock Health logo and the company’s new ‘Power of ONE’ tagline.
“The addition of SPM Group to Unlock Health solidifies our position as a full-service marketing platform, allowing us to serve any client no matter how large or how complex their needs,” said Shannon McIntyre Hooper, President of Unlock Health. “By combining SPM Group’s unmatched marketing talent and expertise with our technology and managed care capabilities, we will become the leading, single-source partner for our shared network of clients across the healthcare ecosystem.”
Unlock Health is backed by Amulet Capital Partners, a middle-market private equity investment firm focused exclusively on the healthcare sector, and Athyrium Capital Management, a specialized asset management company focused on opportunities in the global healthcare sector. Canaccord Genuity served as the exclusive financial advisor to SPM Group on this transaction.
“With SPM Group joining Unlock Health, we’re not just growing. We’re creating a new category and platform for healthcare growth, adding the services and scale to deliver on a value proposition never offered to the market before,” said Gabriel Luft, Partner at Amulet Capital Partners. Hondo Sen, Partner at Athyrium Capital Management, added, “This acquisition is another signal of our commitment to the Unlock Health vision. It’s about offering clients and prospects the most advanced growth solutions in healthcare by breaking down the barriers that restrict healthcare organizations from thriving.”
About Unlock Health
Unlock Health is a tech and services growth platform that connects the dots across managed care, marketing, and technology to help healthcare providers solve today’s urgent growth needs while building sustainable performance for the future. Unlock Health provides its roster of healthcare providers with an unparalleled suite of products and technology capabilities underpinning a full-service agency and managed care consultancy. To learn more, please visit www.unlockhealthnow.com.
About SPM Group
SPM Group is the premier independent network of health and healthcare agencies. SPM creates meaningful change through better, innovative connections and engaging holistic experiences between audiences and brands. The agency shares a vision to constantly evolve, grow, and improve talent and capabilities to keep its clients ahead of their competition.
SPM believes people deserve to know the differences in health and healthcare, and creates meaningful communications and experiences to help people improve their lives. From strategy and insights to creative, content, digital and media, SPM Group is all hands on deck, collaborating across disciplines and channels to deliver everything clients need today and tomorrow. Canaccord Genuity served as the exclusive financial advisor to SPM Group on this transaction. More information about SPM can be found at www.spmgroup.com.
About Amulet Capital Partners
Amulet Capital Partners is a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in healthcare companies. Amulet focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size between $50 million to $150 million. For additional information, please visit www.amuletcapital.com.
About Athyrium Capital Management
Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $4.6 billion in committed capital. The Athyrium team has substantial investment experience across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, healthcare focused services, and healthcare information technology. The team partners with management teams to implement creative financing solutions to companies’ capital needs. For more information, please visit www.athyrium.com.
Amulet Capital Partners
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Joele Frank, Wilkinson Brimmer Katcher
Athyrium Capital Management
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