Mark Penn’s Stagwell Media has acquired healthcare marketing specialist Scout. Terms weren’t disclosed.
The shop, with more than 140 employees, focuses on the specialty pharmaceutical and rare disease space, as well as what it calls the “mom consumer.” It has offices in Atlanta, Chicago and San Diego.
“Adding Scout to our growing portfolio gives Stagwell a core platform in the competitive healthcare sector around which we can add even more capabilities,” stated Penn, the former Microsoft and market research executive who founded Stagwell in 2015 as a budding holding company. “In addition,” Penn added, “Scout’s consumer group has a unique process for humanizing brands, and is strongly focused on the ‘mom’ consumer who I believe are key to marketing success.”
Stagwell said that the agency’s current management team, led by CEO and Principal Jennifer Brekke, would remain in place.
The acquisition is Stagwell’s 11th investment in less than two years. Other firms in its growing portfolio include research company Harris Insights & Analytics, performance marketing firm PMX Agency, creative digital shop Code and Theory, and entertainment research company National Research Group (NRG).
Palazzo served as financial advisor to SCOUT in this transaction.