A Bristol digital marketing and services agency has been snapped up by technology services company The Panoply Holdings PLC, a London-based technology-enabled services group focused on digital transformation for £5 million.
Nudge Digital Limited, delivers strategy-led services primarily to the pharmaceutical industry, health sector and, more recently, to local authorities, with a particular focus around care pathways.
Nudge, founded in 2006 by CEO Luke Aikman, provides strategic consultancy and digital execution on mission-critical services, from global pharmaceutical projects to the software underpinning social housing and social care. Since its founding, Nudge has built up a strong client base including major pharmaceutical companies Roche and Galderma, private healthcare provider Bupa as well as the Greater London Authority, Hackney and Westminster councils.
The Acquisition is strategically important to the Group and strengthens its overall position in healthcare and, importantly, provides an entry into the pharmaceutical industry at a time when the NHS is looking at precision medicine, risk stratification and data-driven personalised care plans for patients.
The Acquisition is profitable and immediately earnings enhancing for The Panoply. Nudge has achieved significant revenue growth over the last two years of 151 per cent and delivered revenues of £2.7 million, adjusted EBITDA of £1 million and adjusted profit after tax of just under £1 million for the year ended 31 March 2021 (all unaudited). Nudge enters the group with a booked backlog of £2.5 million for FY22.
Neal Gandhi, Chief Executive Officer of The Panoply, said: “We’re delighted to welcome Nudge to the Group at a time when the NHS is considering its approach to personalised healthcare and care pathways are coming into sharp focus as the government looks to deliver on its social care reform agenda.
Pulling together Nudge’s experience in private healthcare and pharmaceuticals with the Group’s existing experience across the NHS and local authority adult social care gives us a strong base to become a leader in the healthcare sector in the UK.”
Luke Aikman, Chief Executive Officer of Nudge Digital, added: “In recent months, Nudge has started to win contracts that are impactful and larger in size than ever before. By joining The Panoply, we can continue on that trajectory in the knowledge that we have a balance sheet that reassures our clients as well as a much larger team to draw upon to fulfill their requirements.
“As a team, we’re excited to begin working in collaboration with the rest of the Group and to continue delivering exceptional work to our client base.”