NASHVILLE, TN: ReviveHealth notched 62% revenue growth in 2014, reaching $8.7 million, the firm said late Monday.
The agency also added 42 clients and 23 staffers and expanded to Minneapolis through its acquisition of healthcare agency Interval in November.
The growth rate represents total change in revenue, taking into account gains via acquisition or disposal. Organic revenue growth does not take into account such business moves.
The firm added clients such as Heritage Group, Valence, Accolade, Privia, Amedisys, and Vets First Choice, as well as 30 health systems. It also added a for-profit hospital to its client roster.
CEO Brandon Edwards said he would have been "stoked" with the firm’s planned-for 34% revenue-growth rate, adding that "everything really came together." He noted that no one client accounts for more than 10% of the firm’s revenue.
Eleven employees relocated to the agency’s Nashville office last year, Edwards said.
"We were going to hire the right people, and hiring the right people was going to attract the right business," he explained. "The team we build in 2014 is going to pay off in 2015 and 2016."
Corporate activity also played a role in the firm’s growth. Edwards told PRWeek last March that there was "an inertia period" in 2012 while clients waited on the Supreme Court’s Affordable Care Act ruling. However, in 2014, political conversations took a backseat to clients’ realization that "they were going to have to operate very differently in the future to be successful."
"As the economy improved and as capital markets opened back up, that has caused [companies] to look much more seriously at communications needs, not just [the] sales side of sales and marketing," he explained.
Edwards added that the firm is keeping an eye on markets such as Austin, Texas, and San Francisco for possible expansion and said New York and Chicago are discussed "every year."
"A large part of this transformation story is complete, now it’s about realizing the opportunity," he said.
The firm is also on the shortlist for Small PR Agency of the Year at the 2015 PRWeek Awards.