ICR, a leading strategic communications and advisory firm, announced that it has acquired Westwicke Partners, the leading healthcare-focused investor relations firm in North America. Westwicke, and all of its team members, will combine with ICR’s existing healthcare investor and public relations practice, forming a new entity branded as Westwicke, An ICR Company. The new practice group will be co-led by Westwicke Founders Bob East and Mark Klausner.
The transaction advances ICR’s strategy to be the leading strategic communications firm serving companies with sector-focused expertise. ICR pioneered the model of having former sell-side analysts and other Wall Street professionals with dedicated sector expertise serve as IPO advisors, investor relations and capital markets advisors to clients. Adding Westwicke, which applies that same model to the healthcare sector, creates the leading communications practice serving this rapidly growing category.
Westwicke will remain a leading IPO advisor and investor relations firm servicing growing healthcare companies and, by combining with ICR, will expand its capabilities to now include ICR’s established practice areas of public relations, digital branding, crisis & special situations and governance advisory services. ICR’s PR team consists of more than 75 team members, including a dedicated team serving the healthcare industry. Both firms have capital markets advisory businesses which will be unified to support the needs of clients considering IPOs and other capital raising events including block sales and debt advisory.
Tom Ryan, CEO of ICR, stated, “We have always had the utmost respect for Westwicke and viewed them as the ‘ICR of Healthcare’. The Westwicke team has built an incredible business that mirrors our culture and commitment to excellence in client service and sector-focused strategic counsel. We couldn’t be more excited and look forward to their leadership in growing an integrated healthcare practice and contributing to the broader success of ICR.”
Mr. East and Mr. Klausner stated, “Joining forces with ICR represents a natural next step for our business and provides significant benefits for our clients and team members. We will continue to offer the same dedicated healthcare expertise while now being able to integrate a broader suite of services that our clients are increasingly asking for. We have known and admired the ICR team since we founded Westwicke and we are enthusiastic about building the next chapter of our business as part of ICR.”
Founded by Mr. East and Mr. Klausner in 2006, Westwicke provides IPO advisory, investor relations and capital markets advisory services to clients in the life sciences, medical technology and healthcare services sectors through a network of offices in Baltimore, Boston, New York, San Diego and San Francisco. With 29 team members and more than 100 clients, Westwicke is recognized as the leading investor relations and capital markets consulting firm serving the healthcare industry.
Michael Fox, Chief Client Officer for ICR, stated, “The convergence of communications continues to accelerate across all industries. We look forward to providing Westwicke’s clients, and all healthcare companies, a fully-integrated communications solution that combines the preeminent healthcare IR team with sector experts in public relations, crisis management, special situations and digital branding.”