Carlyle-backed Indegene buys US marketing agency CultHealth

Bengaluru-based, technology-driven healthcare solutions provider Indegene has bought US healthcare marketing agency CultHealth in a bid to improve its portfolio ahead of its upcoming IPO.

Carlyle-backed private equity firm Indegene acquired CultHealth through its subsidiary ILSL Inc. It did not disclose the size of the acquisition.

The agreement adds branding and market development capabilities as well as patient engagement platforms to Indegene’s offering, the company said in a statement.

“With CultHealth, our life sciences customers benefit from a partnership with a single service provider, from branding to commercialization,” said Manish Gupta, Executive Director and CEO of Indegene Private Limited.

CultHealth, based in New York, was founded in 2005. It is a full-service advertising and marketing agency that develops strategies, creative and innovative tactics to build connections or “cult followings” between brands and their audience. academic level to gain insights for brand campaigns and creatives.

Following the acquisition, CultHealth will retain its identity and position itself as “an Indegene company”, with its founders and management team continuing to run the company.

“The CultHealth team brings nuanced expertise to reach patients and physicians with significant DTC (Direct To Consumer) and marketing efforts, with a particular focus on the therapeutic areas of diabetes and oncology,” a- he added.

Indegene is also preparing for an IPO, where it is likely to raise 2500 crore. He had named bankers, JP Morgan India Pvt Ltd and Kotak Mahindra Capital Co Ltd last month. The company had revenue of $223 million in fiscal 2022.

Indegene was incorporated in 199 and is engaged in research and experimental development in the natural sciences and engineering. It has a global presence in the US, UK, Europe, China, Japan, and India.

Last year, Indegene raised $200 million from US investment firms Carlyle Group and Brighton Park Capital to spur acquisitions and drive global expansion plans.

Acquisitions have always been a key part of Indegene’s growth strategy. Last year, in August, Indegene acquired US-based Medical Marketing Economics LLC for around $10 million to bolster its emerging biotech and medical offerings.

Previously, the company made seven strategic global acquisitions between 2012 and 2019. Prior to MME, in 2019 it acquired DT Associates, a UK-based digital transformation and customer experience consultancy.

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