Health sector PR firm founded by Irishman valued at $20m after sale
A specialist health-sector public relations firm founded in New York 2009 by Irishman David Kyne has been sold in a deal that values the business at $20m.
US specialist communications business Huntsworth has bought an 85pc stake in health communications specialist Kyne for an initial cash consideration of $17.4m from founder and majority shareholder David Kyne and his wife Jacqueline Kyne.
The business will be added to Huntsworth’s subsidiary Evoke PR & Influence to form Evoke Kyne, led by Kyne CEO and founder David Kyne.
Prior to founding his own business David Kyne led the New York Healthcare practice at the global public relations firm Hill+Knowlton Strategies where clients included Pfizer, Amgen, Merck and Johnson & Johnson. He is a graduate of University College Dublin and Dublin Institute of Technology.
Kyne itself has offices in Dublin, London, New York and Los Angeles. Its clients include foundations and non-profits, government organizations and biopharmaceutical companies.
It reported revenue of $10.4m and an operating profit of $1.3m in 2018.