Sale Of Spectrum Science By Seng To Wilson Completed Ahead Of Schedule
Transaction Closed One Year Early, Based on Unprecedented Transformation and Growth
Jun 27, 2018, 09:00 ET
WASHINGTON, June 27, 2018 /PRNewswire/ -- Spectrum Science Communications, a leading independent health and science public relations agency, today announced the completion of its sale by Founder John J. Seng to current President and CEO Jonathan Wilson.
The transaction closed June 25th, 2018, one year earlier than scheduled, due to the agency's double-digit, transformational growth over the past six years.
"When I first walked into Spectrum's DC headquarters in 2014 and saw what John and the team had created, I knew I wanted to be a part of it," said Wilson. "Spectrum enjoyed a fantastic reputation built over 18 years, a team of passionate healthcare communicators and the drive to tell powerful science stories for clients and their brands. I also recognized the enormous potential for Spectrum's GLOBALHealthPR agency partnership to benefit audiences and clients by telling those stories around the world," Wilson said.
Since becoming CEO, Wilson has expanded Spectrum's strong health and life science-focused PR brand into a global powerhouse of integrated science and healthcare storytelling, more than quadrupling the firm's revenues and increasing staff by 250%. His carefully planned vision for growth, including the February 2018 launch of the Galileo6 marketing intelligence platform, has kept the agency ahead of emerging trends to meet the ever-evolving needs of clients, both now and in the future. Spectrum is projected to exceed growth expectations again in 2018.
"I launched Spectrum in 1996 with the primary focus of putting clients first," said Seng, who sought a better way than the traditional agency model at the time. "I thank all our clients and our people who helped realize the dream to build a world-class, independent PR firm focusing exclusively on life science and health communications. In focusing on Spectrum's future as we recruited a successor, I saw that Jonathan shared a vision for and understanding of the unique value of a network of independent agencies all focused on healthcare. Jonathan's superior track record speaks to his eye for excellence, commitment to innovation and appreciation of the priceless value of Spectrum's culture," said Seng, who also co-founded GLOBALHealthPR in 2001.
The five-and-a-half year transition plan for Spectrum's sale was developed by Alex Halbur of Prosper Group, who helped Seng avoid the customary earn-out scheme with a third-party acquirer and instead design a private, internal sale to safeguard Spectrum's identity and values. Seng plans to continue management counseling to companies and trade associations, particularly in the PR firm world, as a senior advisor to Prosper Group, where he currently advises clients on PR and agency transition planning.
About Spectrum
Spectrum is a leading independent health and science public relations agency, committed to achieving the goals of clients across five key practice areas: biopharma, biotechnology, public affairs, health technology and consumer science. A full-service agency, Spectrum adopts an insight-driven approach in creating strategic frameworks for clients, supported by marketing communications, advocacy relations, digital communications and design services. Spectrum offers global reach as the US partner and chair of GLOBALHealthPR. For more information, visit http://www.spectrumscience.com or follow @SpectrumScience on Twitter.
SOURCE Spectrum Science Communications