Real Chemistry announces 2022 business highlights, with company exceeding $550 million in revenue for the first time
Happy customers, innovation, award-winning work and experienced employees drive double-digit sales growth for the 21st year in a row
NEW YORK, March 08, 2023–(BUSINESS WIRE)–Real Chemistry, the leading provider of AI-powered insights and human-centric experiences for the healthcare industry, today reported financial results for the year ended December 31, 2022. The company generated revenue of $555 million, reflecting growth of 17% compared to $475 million in 2021 and marking the company’s 21st placeSt double-digit sales growth in a row.
“Real Chemistry’s financial performance reflects our success in delivering impactful work at scale, and I cannot thank our team and customers enough,” said Shankar Narayanan, CEO of Real Chemistry. “Crossing the half-billion dollar threshold is a significant milestone for our company. But it’s more than revenue growth that drives us. It is the spirit of unparalleled innovation that provides us with insights and integrated capabilities across the full spectrum of services our clients require. With the power to continue to innovate at scale and serve as the leading partner of choice for our customers, we are well positioned to drive our next decade of growth.”
In 2022, Real Chemistry experienced sustained double-digit growth in its advertising and communications business. The company also saw growth of up to 50% in several categories reflecting evolving customer needs and the company’s expanding franchise mix: data and AI products and services, market access, medical affairs, and influencers and celebrities.
“Our continued focus on and investment in data and AI-driven products and services ensures we can deliver impact and value to our clients who require more integrated and specialized services as they navigate an increasingly complex and evolving economic environment move,” added Narayanan. “Our focus, investments and growth in these areas will continue to bear fruit in 2023 and beyond.”
The highlights of 2022 from Real Chemistry:
Implemented a comprehensive customer satisfaction program and achieved record levels of satisfaction. In the first year of a new quantitative and qualitative multi-factor feedback program, Real Chemistry saw notable improvements as measured against industry-standard NPS and OSAT metrics that informed and enhanced Real Chemistry’s customer experience.
Acquired ConversationHEALTH to enable the world’s leading healthcare and life science companies to create personalized virtual experiences. Known as VirtualRep, this platform uses medically trained natural language processing, contextual AI, and supervised machine learning to generate near-human interaction with healthcare providers in the moment of need.
Introducing 21Gaming, a new discipline under Real Chemistry’s commercialization and promotional franchise 21GRAMS that connects patients to leading therapeutic treatments, research, communities and education through immersive, non-disruptive and targeted activations.
Developing a unique solution to help clients increase equity in clinical trials in accordance with recent FDA guidelines, Merger of Real Chemistry’s IPM.ai and Global Inclusion and Health Equity teams. This offering helps attract communities of healthcare providers and principal investigators serving rare diseases and underserved patient populations to clinical trial recruitment based on billions of prior medical claims with a 10-year track record and social determinants of health indicators. IPM.ai was also named to Fast Company’s 2022 Most Innovative Companies list.
Received several leading industry awards for his client work and was recognized for his excellence by winning PRovoke Media’s Global SABER Award for Global Healthcare Agency of the Year, an MM+M Silver Award for Large Healthcare Network and being named to Adweek’s list of Fastest Growing Agencies excellent. In addition, 21GRAMS, part of Real Chemistry, has been named the #2 health agency in the world by Cannes. Real Chemistry also received two coveted Cannes Lions Pharma Awards.
About real chemistry
Real Chemistry’s mission is to make healthcare what it should be by leveraging the industry’s most advanced AI-powered insights, diverse expertise, and customer-centric ideas. We help the healthcare industry better understand, reach, and engage patients and professionals—while creating healthcare experiences that span diagnosis to therapy adherence—to ensure therapies meet and exceed their potential to impact lives.
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Lauren Venoy, Apr
Head of Corporate Communications