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The Lockwood Group acquired IDEOlogy Health, an omnichannel medical education company, on Monday morning.

Lockwood Group founder and CEO Matthew Schecter said the 2024 MM+M Best Places to Work honoree purchased the Austin-based company to boost its data-driven medical communication services for life science brands.

Schecter noted that the deal also boosts the Stamford, Connecticut-based pharma services organization’s growth in the rare disease and oncology sectors — the latter of which accounts for 50% of the firm’s business.

Despite macroeconomic and political uncertainties, Schecter said he remains bullish on oncology due to its high-science nature and ongoing medical breakthroughs.

He said IDEOlogy Health’s value proposition is based on its proprietary non-promotional educational solutions as well as its unique, exclusive relationships in oncology, which gives the organization access to community oncology patients and practices. 

In addition to its multichannel work with oncology partner brands, IDEOlogy Health also hosts multiple medical congresses including the Texas Lung Cancer Conference, World Conference on Genitourinary Cancers and the Nashville Hematology Conference.

“[IDEOlogy Health] shares with us a need for access to community oncology and that is something that’s tricky for our clients to get access to,” Schecter said. 

Moving forward, the Lockwood Group plans to integrate IDEOlogy Health’s technology platforms — including IDEO Talks and Sound Bites — into its offerings to enable more personalized, data-driven engagement strategies for clients operating in complex therapeutic areas.

“Joining forces with The Lockwood Group allows us to scale our impact, expand our reach, and elevate the work we do with our clients and our partners in community oncology,” IDEOlogy Health founder Mike Gramling said in a statement. 

Terms of the deal were not disclosed and Jefferies acted as the exclusive financial advisor to IDEOlogy Health.

Since taking on private equity backing from Ares Management in 2021, Schecter said Lockwood Group has been diligent but active in growing its portfolio. 

In 2022, it acquired U.K.-based medical animation studio Random42 Scientific Communication from Graphite Capital — which Schecter noted as a significant step in the firm’s growth trajectory.

Last year, it bought Advantage Point Solutions, a strategic market access consulting group.

In early March, the Lockwood Group announced the launch of market access shop Nexus Health, helmed by former Entrée Health CEO Andrew Gottfried.

With this deal, Schecter said the Lockwood Group team intends to work closely with the existing IDEOlogy Health leadership team — namely Gramling and president Cameron Lush, PhD — to help scale the organization and ensure continuity of the business.

He reiterated that culture is the primary consideration when Lockwood Group considers dealmaking opportunities, followed by the capabilities that meet client needs.

Schecter didn’t tip his hand on what Lockwood Group is considering next as a course of action but did hint at future acquisitions, emphasizing the selective and strategic approach to ensure cultural fit and added capabilities for the overall organization.

“If you look at each one of our acquisitions, it wasn’t something we already did, it was an additional skill that we didn’t have, that we needed and that was driven by our clients,” he said.