Global health innovation leader W2O today announced it has acquired tech-enabled companies Swoop and IPM.ai, further accelerating what is expected to be its 20th consecutive year of double-digit revenue growth.
“The next frontier for the healthcare industry is using value-based and outcomes-driven messaging to connect the right patients to the right treatment at the right time,” said Jim Weiss, Founder and CEO of W2O. “In the increasingly digital post-pandemic era, we need to help our clients move faster and with more precision and efficiency to conduct clinical trials, launch new products, maximize peak revenue opportunities, and successfully navigate product lifecycles. The acquisition of Swoop and IPM.ai enables this game-changing approach – with the goal of improving healthcare from bench to bedside.”
Swoop and IPM.ai are pioneers in using machine learning, artificial intelligence, and real-world data to solve big challenges in healthcare. Swoop creates precise patient audiences, improving targeting of healthcare engagement and empowering patients to become active participants in their treatment journey. IPM.ai uncovers the ideal patient, enabling accelerated research, development, and commercialization of life-saving therapies in under-defined patient populations.
“Joining W2O brings Swoop and IPM.ai access to additional resources, health care expertise and opportunities to fuel our already impressive growth, as we help life sciences companies uncover, activate and ultimately engage their ideal patient populations and health networks,” said Ron Elwell, Founder and CEO of Swoop and IPM.ai. “Our existing leadership team, technologists, data scientists, life sciences experts and digital marketing professionals will continue to serve our customers, while expanding our team and reach over time.”
The Swoop and IPM.ai acquisition is the ninth for W2O since the company announced its partnership with New Mountain Capital in 2019. W2O achieved more than $350 million in revenue in 2020, an increase of 50% from the prior year.
“Our newly established Health Technology Business combines W2O’s robust data and analytics software with the Symplur, Swoop and IPM.ai tech and data assets. For customers, this will provide a powerful combination of tech-enabled strategic services along with DaaS and SaaS solutions, enabling digital transformation across the clinical and commercial ecosystem,” said Adam Cossman, Group President/Managing Partner of W2O’s Health Technology Business. “We have evolved our business and made big bets on tech-enablement over the past few years and this is another milestone in our transformation to becoming a healthcare innovation company. The Swoop and IPM.ai acquisition catapults us further into this space, adding new solutions to meet the accelerated, real-time changes happening in health care.”
“New Mountain has a long-standing focus on improving healthcare through the application of data and technology,” said Matt Holt, Managing Director and President of Private Equity at New Mountain. “We are excited to continue to invest behind the W2O team to achieve this vision and support their accelerated growth plan.”
“We are working closely with W2O to reimagine an industry that is ripe for transformation, as life sciences companies look to digitize how they go-to-market, conduct clinical trials, and engage with patients, clinicians and decision makers,” added Brian Murphy, Director at New Mountain. “The combination of Swoop and IPM.ai with our existing Health Technology Business will significantly supercharge our efforts in this space and deliver innovative new solutions for clients.”