Unlock Health, a healthcare technology and services growth platform serving healthcare providers, has acquired SPM Group, a network of health and healthcare agencies including SPM, GLC, Dreamscape and Centretek, from Corridor Capital, a Los Angeles-based lower middle-market private equity firm. Financial terms of the transaction were not disclosed.
The acquisition of SPM Group brings a 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 broader offerings for healthcare providers.
Over the last several years, SPM Group has expanded its full-service offering through the acquisitions of Centretek, GLC and Dreamscape. This growth has solidified SPM Group’s commitment to meeting the marketing demands of its clients, including the execution of agency of record engagements and integrated, multichannel marketing campaigns.
“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 in a statement. “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.”
With the acquisition of SPM Group, Unlock Health becomes 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 in a statement. “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.”
Unlock Health was formed in April 2023 through the acquisition of Eruptr, a 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. All offerings are now unified under the Unlock Health logo and the company’s new “Unlock” tagline.
Unlock Health’s cofounders, Brandon Edwards and Shannon Hooper, at their Nashville office.
“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.