Hyve Group Snaps Up Second Portfolio of Events from Entrepreneur and Investor Jonathan Weiner with HLTH Acquisition
October 29, 2024
Making its first significant leap into the $12 trillion healthcare sector, Hyve Group, an independent media company owned by PE firms Providence and Searchlight, acquired HLTH Inc., a privately held company that produces health innovation events.
Founded in 2018 by serial entrepreneur and investor Jonathan Weiner, HLTH Inc. has grown to become the producer of three events, including HLTH USA, HLTH Europe, and ViVE, as well as HLTH Digital. Weiner also co-founded events like Money20/20, which was acquired by Informa earlier this year as part of the $1.5 billion Ascential deal, and Shoptalk, which was acquired by Hyve Group in December 2019. HLTH Founder and CEO Weiner will continue to lead HLTH through its next chapter of growth, and Hyve will add more than 80 employees across offices in New York, London, and Dublin.
Context: In 2023, Hyve was taken private and de-listed from the London Stock Exchange after 25 years. Owner and producer of Shoptalk, Bett, Groceryshop, and Fintech Meetup, Hyve made its second strategic acquisition of the year with HLTH under its PE ownership. In July, TSNN reported Hyve Group added to its U.S. portfolio with the acquisition of POSSIBLE, a two-year-old brand marketing event.
Related: Providence Equity Partners Acquires U.K. Event Organizer Hyve Group for $579 Million
Big picture: This strategic move brings Hyve’s portfolio into a high-growth industry and HLTH’s flagship event, HLTH USA, becomes Hyve’s largest event by revenue, with ViVE, an event for digital health executives, close behind as its No. 4 revenue driver, according to Hyve officials.
Why It Matters:
- Strengthening of Hyve’s U.S. and global footprint with renowned events and a vibrant healthcare community.
- Mission alignment: Both companies are dedicated to transforming industries with events that drive impactful connections and innovation.
- Growing reach: Engages a blue-chip roster of partners like Amazon, Google Health, Microsoft, and Mayo Clinic.
- Global potential: Opportunity to replicate HLTH’s success across markets worldwide.
Deeper dive: HLTH USA, which took place Oct. 20-23 in Las Vegas, brought together more than 12,000 attendees, 36% of which were C-suite, and which included 2,300 CEOs. The high-profile speaker lineup included First Lady of the United States Dr. Jill Biden, Actress Halle Berry, U.S. Food and Drug Administration Commissioner Robert Califf, and Google Research Head of Health AI Greg Corrado. The next HLTH USA event will return Oct. 19-22, 2025, to Las Vegas.
What they are saying: Hyve CEO Mark Shashoua said: “HLTH’s commitment to reshaping healthcare aligns perfectly with our purpose of delivering game-changing impact across industries.” Weiner said: “Hyve is an ideal partner to elevate HLTH’s vision of a healthier, more connected world. Together, we’re poised to drive positive change and foster even greater innovation in healthcare.”
Looking ahead: HLTH Europe will be held June 16-19 at the RAI Convention Center in Amsterdam. ViVE will take place Feb. 16-19 at Music City Center in Nashville.
Main image: Actress Halle Berry and Musician John Legend at the 2024 HLTH USA show in Las Vegas.
Photos: Courtesy of HLTH and Hyve
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
Add new comment