Marcella Milliet Sciorra
The Perils of AdTech Grading Its Own Homework in Healthcare Marketing
By: Kevin Elwell
New York, NY – September 5th, 2024 – New Mountain Capital, a leading growth-oriented investment firm, today announced that it has established Swoop, the leading provider of omnichannel marketing technology for the healthcare industry, as a standalone business. For the past four years, Swoop has operated as a unit of Real Chemistry, another New Mountain portfolio company, during which both businesses grew exponentially.
Swoop is powering the next generation of healthcare marketing by leveraging ML/AI and real-world data to continually innovate and improve on its proprietary audience targeting, conversational AI systems and omnichannel engagement solutions. Swoop’s first-of-its-kind tools enable pharmaceutical and life sciences brands to find, target, and engage with their ideal patient and provider audiences. This enables healthcare marketers to reach these audiences in a personalized manner at crucial moments in the patient journey with the goal of driving better healthcare outcomes. This critical impact can include recruiting for a clinical trial, identifying a patient with an undiagnosed condition, expanding therapy awareness, and improving prescription adherence, amongst other use cases. Swoop’s unique technology delivers personalization-at-scale while ensuring privacy and compliance, thereby enabling a novel approach to stakeholder engagement that supports the future of precision medicine.
"We are excited to continue to partner with New Mountain as we execute on an even more expansive shared vision for the business,” said Ron Elwell, Founder and CEO of Swoop. "There is a massive industry transformation underway, and this partnership will allow us to hyper-focus on driving privacy-safe innovation and expanding our best-in-class capability set in order to continue to fuel our clients' omnichannel success and reimagine how they engage with stakeholders in a data-driven, personalized, and digital manner.”
For Real Chemistry and Swoop, this period of collaboration has significantly enhanced their collective capabilities in AI and data technology, laying a strong foundation for the future of both. The two platforms will maintain a preferred partnership arrangement going forward and Real Chemistry will retain its strong backbone of data, AI systems, and analytics applications. New Mountain will continue to support both platforms and provide additional investment flexibility to pursue exciting roadmaps for expansion for each.
“Since our original investment in Real Chemistry, the business has continued to build on its edge as an innovative market leader that is transforming how healthcare engages with key stakeholders. The establishment of Swoop as a standalone business focused on innovative data and technology applications represents an exciting next step in that evolution,” said Matt Holt, Managing Director and President of Private Equity at New Mountain Capital. “We are thrilled with the progress to date, and look forward to continuing to support the growth of both Swoop and Real Chemistry as industry-leading platforms during this next phase.”
About Swoop
Swoop is a leading provider of precision AI-driven healthcare omnichannel solutions dedicated to protecting consumer privacy. By prioritizing privacy and compliance, Swoop ensures the highest standards of data protection for its clients and partners. Our superior audience quality segments and 100% MLR-approved conversational AI agents generate meaningful patient and provider engagement, optimal conversion, and increased Rx lift. To learn more, visit www.swoop.com.
About Real Chemistry
Real Chemistry is a trusted partner to the world’s most successful life sciences and healthcare companies, helping them better understand, reach and engage patients and healthcare professionals. Using insights generated from our AI-powered analytics, our experts in advertising, marketing, communications and medical communications enable medical therapies to meet and exceed their potential.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with over $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://www.newmountaincapital.com/.