Lucid Group acquires US-based strategic brand consultants DiD
Jun 9, 2021
Lucid Group has acquired the US-based strategic brand consultants, DiD. This union will strengthen Lucid Group’s existing presence in the US and its ability to provide a compelling strategic, creative and digital offering globally. It is a large step forward for Lucid to advance its mission to improve global health outcomes by building an integrated suite of industry-leading capabilities to better address complex healthcare challenges.
Founded in 2007, Lucid Group is a strategic healthcare communications company committed to advancing patient health outcomes. Lucid Group’s pioneering approaches to communication have received industry-wide recognition and have consistently led to market-leading growth. In recent years, Lucid Group has evolved its offering through the successful acquisitions of Bluedog, a digital and creative consultancy, and HealthCare21, a specialised medical communications team. This acquisition will augment the group to become a 400+ people-strong company.
DiD are US-based strategic brand consultants who have been building compelling creative solutions to address healthcare problems for the last 17 years. The team of c.140 employees have a wealth of expertise across pharmaceutical, medical device and consumer healthcare brands, and in recent years have enhanced their capabilities to include digital, media buying and data analytics.
Dennis O’Brien, Lucid Group CEO, commented, “DiD have a wealth of talent and have built amazing client relationships during the last 17 years. The union of our people and capabilities brings us closer to achieving our ambition. This strengthens our ability to bring best-in-class capabilities across the US and global markets. Together, we will work with our clients to better understand and fix problems in healthcare by applying our integrated capabilities at the right time and executing brilliantly.”
Rick Sannem, DiD founder commented, “We are excited about our future and the ability to achieve so much more together. What stood out for us about Lucid was their track record of success and growth and that we share a very similar mission and vision for our businesses. It was also clear that our cultural ethos was aligned. This combination enables us to build stronger scientific and commercial campaigns, to truly partner in a deeper way across commercial and medical through scientific and creative conversations with our clients that brings their brand’s science to life.”
This is Lucid Group’s first acquisition backed by its new investment partner Intermediate Capital Group (ICG) – a leading global alternative asset manager. ICG will continue to support Lucid Group’s ambitious team to acquire and build new capabilities that will add value to its clients, expand its international footprint, evolve its people development offering and achieve improved patient outcomes.
Funding for the transaction was provided by ICG, HSBC UK and Siemens Bank.
Lucid Group was advised by DLA Piper (Legal), Proskauer Rose (Legal), RSM (Financial Due Diligence), PWC (Tax) and Matrix (Insurance).
DiD was advised by Results International (Corporate Finance), Baker Tilly (Finance and Tax) and McCausland, Keen & Buckman (Legal).
For more information please contact:
Laura Gaskell, Marketing Director, Lucid Group