WebMD acquires Medsite in $41 million deal
WebMD Health has entered into a deal to acquire the interactive
medical education, promotion and physician recruitment businesses of Medsite. The purchase price is $41 million in cash with the acquisition expected to close during September.
“This acquisition will enable WebMD to provide its pharmaceutical and biotechnology customers with an expanded set of online solutions to increase sales and marketing efficiencies, and complement their direct physician detailing efforts,” said WebMD CEO Wayne Gattinella in a statement.
“Our collective assets will allow us to reach the largest number of physicians across all major specialties to better serve our clients with an unparalleled set of products and services,” added Sundeep Bhan, cofounder and CEO of Medsite.
Medsite provides e-detailing services, offering clients the use of its proprietary database of over 400,000 physicians.
WebMD said it would provide updated financial guidance on the Medsite deal when it releases its second quarter financial results on August 3, 2006.
WebMD Health is a subsidiary of Emdeon. Its WebMD Health Network features Web sites including WebMD Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and theheart.org.