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."
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