STEM Healthcare founder Rob Wood secures a 25% stake in performance-io

performance-io, a London-based online performance marketing agency for pharma, has announced a new multi-million-pound deal with STEM founder Rob Wood (pictured above).

As part of the deal, performance-io has sold a 25% stake in the business to Wood. The agency was launched three years ago by Matt Lowe as the first ‘performance marketing’ firm dedicated to the pharma sector.

performance-io uses audience behaviour data to define ‘optimal online ecosystems’ for brands before they are built, and then optimise and improve their subsequent campaigns.

Since its launch, the agency now operates in 18 countries, with a number of leading global pharma companies now using its services, including the likes of Bayer, Novo Nordisk and Boehringer Ingelheim.

“This past year we’ve seen a number of companies approach us to develop strategies and manage execution of SEO and SEO content, moving away from large integrated agencies that ‘do everything’ in order to engage more customers,” said Lowe (pictured left).

“Bringing in Rob’s experience in building the industry’s leading benchmarking product partnered with our digital benchmarking and progressive disciplines in SEO, will help us to accelerate our solutions to an even broader audience and continue to drive a competitive advantage for our clients,” he added.

Wood, who previously worked as a director at pharma company AstraZeneca, founded and sold commercial, marketing and medical audit firm STEM to UDG Healthcare in 2016 in a deal worth £84m.

STEM’s service offerings include quantifying and benchmarking companies' organisational alignment and quality of execution, to create action plans for accelerating brand performance.

Lowe will continue as chief executive officer of performance-io, while Wood will join the executive board.