WebMD is buying the company to give its pharma and biotech customers new tools to improve sales and marketing.
WebMD Health Corp. will acquire Medsite Inc., which operates interactive medical education, promotion and physician recruitment businesses.
Announced Thursday, WebMD said it is paying $41 million in cash for Medsite.
"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 Wayne Gattinella, WebMD CEO, in a statement.
Medsite's physician relationship management platform utilizes a 400,000-physician database across all major specialties. The acquired firm also works with more than 60 large pharmaceutical, medical device and healthcare companies.
In 2005, Medsite had revenues of about $13.4 million with a net loss of $1.9 million. WebMD said it doesn't expect the full benefits of Medsite to begin to kick in until the latter part of 2006. WebMD has a long history of acquiring smaller firms and melding them into its infrastructure.
IT's Reputation: What the Data SaysInformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business really views IT's performance in delivering services - and, more important, powering innovation. Our results suggest IT leaders should worry less about whether they're getting enough resources and more about the relationships they have with business unit peers.
What The Business Really Thinks Of IT: 3 Hard TruthsThey say perception is reality. If so, many in-house IT departments have reason to worry. InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business views IT's performance in delivering services - and, more important, powering innovation. The news isn't great.
InformationWeek Must Reads Oct. 21, 2014InformationWeek's new Must Reads is a compendium of our best recent coverage of digital strategy. Learn why you should learn to embrace DevOps, how to avoid roadblocks for digital projects, what the five steps to API management are, and more.