Ascend Media has sold its struggling medical titles toIntellisphere for an undisclosed sum.
The Plainsboro, NJ-based publisher of MD Net Guide picks upThe 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 itwould shutter three of its titles—Physician’s Money Digest, Family PracticeRecertification and Internal Medicine World Report—and was considering sellingthe rest of its Princeton, NJ-based healthcare division because of weakness inthe market for advertising on primary care titles.
Last month, the firm sold its dental group to AegisCommunications. The publisher is holding onto its Los Angeles, CA-based AlliedHealthcare division, whose 14 specialty titles are more dependent onadvertising from medical device manufacturers and service providers thanpharmas.
Will Passano, who headed Ascend’s Princeton healthcare unit,has left the company. The titles will be managed by Intellisphere presidentBrian 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 “acceleratesour commitment to new markets. By expanding our reach in the areas ofcardiovascular medicine, pharmacy medicine, internal medicine, family practice,managed care, surgical medicine and personal finance for physicians, we providea potent array of options and channels for our readers and marketers who arelooking to target specific healthcare audiences.” Intellisphere’s MD Net Guidefranchise claims over 200,000 physician and specialist readers.
From the March 01, 2008 Issue of MM+M - Medical Marketing and Media
