Intellisphere snaps up Ascend titles
Ascend Media has sold its struggling medical titles to Intellisphere for an undisclosed sum.
The Plainsboro, NJ-based publisher of MD Net Guide picks up The American Journal of Managed Care, Cardiology Review, Pharmacy Times, Resident & Staff Physician, Surgical Rounds, Family Practice Recertification, Internal Medicine World Report and Physician's Money Digest.
Overland Park, KS-based Ascend announced in December that it would shutter three of its titles—Physician's Money Digest, Family Practice Recertification and Internal Medicine World Report—and was considering selling the rest of its Princeton, NJ-based healthcare division because of weakness in the market for advertising on primary care titles.
Last month, the firm sold its dental group to Aegis Communications. The publisher is holding onto its Los Angeles, CA-based Allied Healthcare division, whose 14 specialty titles are more dependent on advertising from medical device manufacturers and service providers than pharmas.
Will Passano, who headed Ascend's Princeton healthcare unit, has left the company. The titles will be managed by Intellisphere president Brian Haug and Herb Marek, president and COO of Intellisphere parent MJH & Associates.In a statement, MJH & Associates chairman and CEO Mike Hennessey said the acquisition “accelerates our commitment to new markets. By expanding our reach in the areas of cardiovascular medicine, pharmacy medicine, internal medicine, family practice, managed care, surgical medicine and personal finance for physicians, we provide a potent array of options and channels for our readers and marketers who are looking to target specific healthcare audiences.” Intellisphere's MD Net Guide franchise claims over 200,000 physician and specialist readers.