2014

WebMD Announces Acquisition of Medsite Expands WebMD's Offerings for Physicians



    NEW YORK, July 20 /PRNewswire-FirstCall/ -- WebMD Health Corp. (Nasdaq:  
 WBMD), the leading provider of online health information services to
 consumers and physicians, today announced that it has entered into a
 definitive agreement to acquire the interactive medical education,
 promotion and physician recruitment businesses of Medsite, Inc.
 (www.medsite.com). The purchase price is $41 million in cash. This
 acquisition is expected to close during the September 2006 quarter.
     As a leader in direct to physician eDetailing services, Medsite offers
 a full suite of innovative programs, including a comprehensive physician
 relationship management platform. Medsite's market-leading e-detailing
 services offer clients an end-to-end solution that includes program
 development, targeted recruitment and online distribution and delivery.
 Medsite leverages its proprietary database of over 400,000 physicians
 across every major specialty for online recruitment and participation into
 its programs. Medsite works with over 60 large pharmaceutical, medical
 device and healthcare companies in support of their physician-directed
 marketing efforts.
     "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, CEO, WebMD. "We are
 excited about the highly effective and efficient model that the Medsite
 executive team has developed and about the synergies between our two
 organizations."
     "We are pleased to be joining WebMD and believe that 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," said Sundeep Bhan, co-founder and CEO of Medsite.
     Medsite revenues were approximately $13.4 million with a net loss of
 $1.9 million for 2005. The Company expects to realize the full benefits of
 the acquisition after the integration of sales, technology and operations
 infrastructure is completed in the latter part of 2006. The Company
 believes that the Medsite acquisition will not have a meaningful impact on
 earnings before interest, taxes, depreciation, amortization and other
 non-cash charges for 2006. The Company will provide updated financial
 guidance when it releases its second quarter financial results on August 3,
 2006.
     About WebMD
     WebMD Health Corp. (Nasdaq:   WBMD) is a leading provider of health
 information services to consumers, physicians, healthcare professionals,
 employers and health plans through our public and private online portals
 and health-focused publications. WebMD Health Corp. is a subsidiary of
 Emdeon Corporation (Nasdaq:   HLTH).
     The WebMD Health Network reaches nearly 30 million visitors a month
 through its leading owned and operated health sites that include WebMD
 Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and
 theheart.org.
     All statements contained in this press release, other than statements
 of historical fact, are forward-looking statements, including those
 regarding: the amount and timing of the benefits expected from the
 transactions referred to in this press release; future deployment of
 applications; and other potential sources of additional revenue. These
 statements are based on WebMD's current plans and expectations and involve
 risks and uncertainties that could cause actual future events or results to
 be different than those described in or implied by such forward-looking
 statements. These risks and uncertainties include those relating to: market
 acceptance of WebMD's products and services; WebMD's ability to form and
 maintain mutually beneficial relationships with customers and strategic
 partners; and changes in economic, political or regulatory conditions or
 other trends affecting the healthcare, Internet and information technology
 industries. Further information about these matters can be found in WebMD's
 Securities and Exchange Commission filings. WebMD expressly disclaims any
 intent or obligation to update these forward-looking statements.
 
 

SOURCE WebMD Health Corp.

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