Principals: Robert Chandler, founder
Ownership: inVentiv Health
Offices: New York, Los Angeles, Washington, DC, London, and Paris
Headcount was 275, up 40 over 2008 with 13% turnover. Global CFO Joe Pessolano departed and was replaced by Rob Laub. Al Jackson, formerly of Ketchum, joined to lead the DC office. Ritesh Patel was hired to lead new unit VerStone Digital, which launched in April.
The firm is focused solely on healthcare, but breaks it down into practices, such as consumer, market access, policy, medical education, and digital – all key growth drivers.
Eli Lilly, CareFusion, and Amylin were among last year's 56 new pieces of business (17 were new clients), up about 10 wins over 2008. One account was lost after the client restructured.
Global revenue stands between $50 million and $100 million. US revenue is under $50 million. Both top and bottom lines grew. Founder Robert Chandler reports an "uptick" in net profit. New business represented 65% of growth.
As it prepares to mark its 15th anniversary this year, Chandler says the firm is continuing its growth trajectory. "We're very global, and that's one of the reasons we did so well," he explains. "We're not one-market dependant. New offerings added a lot. Every time we add a unit we make more money because we add another service. Healthcare is demanding. New opportunities appear every day."
Digital, global, policy, consumer, and medical education work in Europe drove growth last year, and Chandler expects that to continue throughout 2010.
*An earlier version of this story named founder Gianfranco Chicco as a principal of the firm. He retired in March 2009.