W2O Group (Real Chemistry): Profile, CEO and Revenue
W2O Group became Real Chemistry in 2021. See its investor New Mountain Capital, CEO Shankar Narayanan, $560 million in 2025 revenue and its acquisitions.
Specialty
Healthcare PR
Updated
Nov 8, 2026
Desk
EPR Editorial Team
Firm summary
Real Chemistry is the healthcare marketing, communications and analytics firm formerly known as W2O Group, rebranded in March 2021, per Wikipedia. Jim Weiss founded it in 2001, per New Mountain Capital, which invested in 2019. Shankar Narayanan became CEO on January 3, 2022, with Weiss as chairman, per Business Wire. Real Chemistry reported $560 million in 2025 revenue in a March 2, 2026 release, and $665 million for 2024 in an earlier one.
Originally published April 2017. Updated October 23, 2026.
How did W2O Group become Real Chemistry?
Wikipedia traces the company through a 2012 restructuring that placed WCG, W2O Ventures and Twist Mktg under a new holding company called W2O Group, followed by Mountaingate Capital's investment in May 2016 and New Mountain Capital's in 2019. After the 2019 investment the company bought Elysia Group, Discern Health and 21GRAMS, per Wikipedia. In March 2021 it rebranded as Real Chemistry and merged its subsidiaries into one company. Fierce Pharma described the rename as part of a growth run that included acquisitions of firms ranging from a celebrity marketing shop to a social media analytics company.
| Date | Event | Source |
|---|---|---|
| 2001 | Founded by Jim Weiss | New Mountain Capital |
| May 2016 | Mountaingate Capital invests | Wikipedia |
| May or June 2019 | New Mountain Capital invests | Wikipedia and its cited coverage |
| March 2021 | Rebrand to Real Chemistry | Wikipedia |
| January 3, 2022 | Narayanan becomes CEO; Weiss becomes chairman | Business Wire |
| 2024 | Acquires Avant Healthcare; opens Manchester and Edinburgh offices | Business Wire |
| July 21, 2025 | Acquires Greater Than One | Real Chemistry website |
| March 2, 2026 | Reports $560 million in 2025 revenue | Real Chemistry website; Business Wire |
Who leads Real Chemistry?
Business Wire reported in December 2021 that Weiss would become chairman and Narayanan CEO and a board member effective January 3, 2022, and that Weiss would join New Mountain Capital as an executive advisor. Fierce Pharma says Narayanan was previously chief operating officer of payer analytics firm Equian, where Weiss said he integrated nine companies while doubling revenue. Business Wire adds that Narayanan led the life sciences business at Cognizant, growing it from $800 million to $1.3 billion in revenue. Read more about the founder in EPR's Jim Weiss profile.
A July 2025 Business Wire release named JJ Schmuckler group president and chief revenue officer, reporting to Narayanan, after more than 14 years at Omnicom, where she was president of the Healthcare Consultancy Group. A February 2025 release named Jeff Lupinacci chief financial officer and Julia Gaebler president of market access. A February 2026 release announced four senior international appointments, including Louise Clark as global president of integrated communications, based in the UK.
Who owns Real Chemistry?
Real Chemistry is backed by private equity. New Mountain Capital describes it as a portfolio company, and its December 2021 release said that since the mid-2019 investment the company had more than doubled revenue and nearly doubled EBITDA. Wikipedia says the 2019 investment was for an undisclosed amount. Mountaingate Capital had invested in May 2016, per Wikipedia.
How large is Real Chemistry?
Business Wire reported expected 2021 revenue of about $475 million and a team of 1,800 in December 2021, up from a one-person consultancy 20 years earlier. A September 2021 release said first-half 2021 revenue topped $200 million, with full-time staff approaching 2,000. The company's April 2025 release reported 2024 revenue of $665 million, up about 12 percent from $596 million in 2023.
| Year | Revenue reported | Source |
|---|---|---|
| 2021 (expected) | About $475 million | Business Wire, December 2021 |
| 2023 | $596 million | Business Wire, April 2025 |
| 2024 | $665 million, up about 12 percent | Business Wire, April 2025 |
| 2025 | $560 million, described as double-digit growth | Business Wire, March 2026 |
The 2025 figure is lower than the 2024 figure in the company's own releases, although the 2025 release describes growth, so both figures are shown as reported.
What does Real Chemistry do?
New Mountain Capital describes a health innovation company delivering analytics-driven, digital-first solutions across physician education, clinical trial engagement, consumer disease awareness, patient engagement and brand positioning, serving most of the top global biopharma companies. Business Wire lists Real Chemistry Medical Communications, formed after the Avant Healthcare acquisition, and a healthcare advisory practice called RC Resolve. The firm was named Healthcare Network of the Year by MM+M and Independent Healthcare Network of the Year by the London International Awards in 2025, per its February 2026 release.
How does Real Chemistry compare with other healthcare PR firms?
Healthcare specialists with EPR profiles include Havas Health & You, IMRE, Spectrum Science and Sam Brown Inc. See EPR's healthcare PR agencies ranking for the category.
Related: PR agency profiles, PR leaders, Healthcare PR, Jim Weiss, 5W, a PR, creative and AI Visibility agency
W2O Group (Real Chemistry) FAQ
How did W2O Group become Real Chemistry?
Wikipedia traces the company through a 2012 restructuring that placed WCG, W2O Ventures and Twist Mktg under a new holding company called W2O Group, followed by Mountaingate Capital's investment in May 2016 and New Mountain Capital's in 2019. After the 2019 investment the company bought Elysia Group, Discern Health and 21GRAMS, per Wikipedia. In March 2021 it rebranded as Real Chemistry and merged its subsidiaries into one company. Fierce Pharma described the rename as part of a growth run that included acquisitions of firms ranging from a celebrity marketing shop to a social media analytics company. DateEventSource 2001Founded by Jim WeissNew Mountain Capital May 2016Mountaingate Capital investsWikipedia May or June 2019New Mountain Capital investsWikipedia and its cited coverage March 2021Rebrand to Real ChemistryWikipedia January 3, 2022Narayanan becomes CEO; Weiss becomes chairmanBusiness Wire 2024Acquires Avant Healthcare; opens Manchester and Edinburgh officesBusiness Wire July 2
Who leads Real Chemistry?
Business Wire reported in December 2021 that Weiss would become chairman and Narayanan CEO and a board member effective January 3, 2022, and that Weiss would join New Mountain Capital as an executive advisor. Fierce Pharma says Narayanan was previously chief operating officer of payer analytics firm Equian, where Weiss said he integrated nine companies while doubling revenue. Business Wire adds that Narayanan led the life sciences business at Cognizant, growing it from $800 million to $1.3 billion in revenue. Read more about the founder in EPR's Jim Weiss profile. A July 2025 Business Wire release named JJ Schmuckler group president and chief revenue officer, reporting to Narayanan, after more than 14 years at Omnicom, where she was president of the Healthcare Consultancy Group. A February 2025 release named Jeff Lupinacci chief financial officer and Julia Gaebler president of market access. A February 2026 release announced four senior international appointments, including Louise Clar
Who owns Real Chemistry?
Real Chemistry is backed by private equity. New Mountain Capital describes it as a portfolio company, and its December 2021 release said that since the mid-2019 investment the company had more than doubled revenue and nearly doubled EBITDA. Wikipedia says the 2019 investment was for an undisclosed amount. Mountaingate Capital had invested in May 2016, per Wikipedia.
How large is Real Chemistry?
Business Wire reported expected 2021 revenue of about $475 million and a team of 1,800 in December 2021, up from a one-person consultancy 20 years earlier. A September 2021 release said first-half 2021 revenue topped $200 million, with full-time staff approaching 2,000. The company's April 2025 release reported 2024 revenue of $665 million, up about 12 percent from $596 million in 2023. YearRevenue reportedSource 2021 (expected)About $475 millionBusiness Wire, December 2021 2023$596 millionBusiness Wire, April 2025 2024$665 million, up about 12 percentBusiness Wire, April 2025 2025$560 million, described as double-digit growthBusiness Wire, March 2026 The 2025 figure is lower than the 2024 figure in the company's own releases, although the 2025 release describes growth, so both figures are shown as reported.
What does Real Chemistry do?
New Mountain Capital describes a health innovation company delivering analytics-driven, digital-first solutions across physician education, clinical trial engagement, consumer disease awareness, patient engagement and brand positioning, serving most of the top global biopharma companies. Business Wire lists Real Chemistry Medical Communications, formed after the Avant Healthcare acquisition, and a healthcare advisory practice called RC Resolve. The firm was named Healthcare Network of the Year by MM+M and Independent Healthcare Network of the Year by the London International Awards in 2025, per its February 2026 release.
How does Real Chemistry compare with other healthcare PR firms?
Healthcare specialists with EPR profiles include Havas Health & You, IMRE, Spectrum Science and Sam Brown Inc. See EPR's healthcare PR agencies ranking for the category. Related: PR agency profiles, PR leaders, Healthcare PR, Jim Weiss, 5W, a PR, creative and AI Visibility agency
Editorial assessment by Everything-PR, based on public record and archive coverage. No firm-supplied marketing copy, no paid placement.
In the news
View all coverage →- PR Firms & Communications AgenciesCrypto PR Company: 5 Crypto PR Agencies to Know in 2026
- PR Firms & Communications AgenciesTeam Epiphany: NYC Agency Acquired by Stagwell in 2024
- PR Firms & Communications AgenciesBoston PR Agencies: PAN, Matter, Racepoint and More
- Consumer Brands & RetailCrocs Marketing Strategy: $1B Quarter and Less Discounting
- PR Agency ProfilesWieden+Kennedy: Independent Agency Behind Nike Since 1982
- Creator EconomyParis Creator Week: France's $10.1B Creator Market Boom
Live coverage from the Everything-PR archive.