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.
How Enterprises Are Attacking the IT Security EnterpriseTo learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Infographic: The State of DevOps in 2017Is DevOps helping organizations reduce costs and time-to-market for software releases? What's getting in the way of DevOps adoption? Find out in this InformationWeek and Interop ITX infographic on the state of DevOps in 2017.
Digital Transformation Myths & TruthsTransformation is on every IT organization's to-do list, but effectively transforming IT means a major shift in technology as well as business models and culture. In this IT Trend Report, we examine some of the misconceptions of digital transformation and look at steps you can take to succeed technically and culturally.