| For Immediate Release |
Contact: Jeremy Milner
401-862-9422
jeremy@jeremymilner.com
Courtney Chandler
617-375-4217
courtney@revolutionpartners.com |
|
| ........................................................................................................... |
WEBMD CORPORATION ANNOUNCES ACQUISITIONS OF HEALTHSHARE TECHNOLOGY INC.
Leading Provider of Hospital Quality Ratings Enhances
WebMD Health Online Decision Tools
ELMWOOD PARK, N.J., (March 14, 2005) -- WebMD Corporation
(Nasdaq: HLTH - News )
today announced the acquisition of HealthShare Technology,
a leader in the healthcare decision support market and provider
of web-based hospital quality comparison tools. The purchase
price was $36 million in cash and up to an additional $5
million if certain financial milestones are achieved for
the calendar year 2005.
HealthShare provides health plans and employers, and their
members and employees, with online decision support tools that
evaluate both cost and quality to enable users to make more
informed decisions about hospital care. HealthShare also provides
professional decision support tools used by health plan executives
to develop provider networks, identify centers of excellence,
and evaluate comparative hospital quality. For hospitals, HealthShare
tools are used to provide online decision support to help enhance
quality of care, manage costs and profitability, and better
understand market position. |
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"HealthShare is the clear market
leader helping health plan members and employees to make more informed
hospital decisions. They work with seven of the top ten health plans
and in total, HealthShare provides its services to more than 85 million
members," said Roger Holstein, CEO WebMD Health. "The integration
of HealthShare's cost and quality metrics into the WebMD platform
furthers our mission of helping consumers make more informed benefit,
provider and treatment decisions."
WebMD Health, the Company's portal segment, provides healthcare
information, decision support and interactive communication products
to more than 20 million consumers and healthcare professionals each
month through its public web sites. WebMD also provides online health
and benefit management services for employer and payer sponsors through
private web sites. These services assist members to make informed
benefit, provider and treatment choices that optimize healthcare
cost and quality.
"We are delighted to become a part of WebMD Health, America's
most trusted source of health information for consumers and professionals," said
Rick Siegrist, CEO, HealthShare Technology. "As part of the WebMD
family, we will be able to significantly extend the reach of our hospital
quality comparison tools for health plans, employers, their members
and employees."
Revolution Partners is one of the nation's largest investment banks focused exclusively on Mergers & Acquisitions and Private Capital Fundraising Advisory Services for technology companies. All of our clients benefit from senior-level attention from partners with deep sector expertise.
Revolution Partners was founded in 2001 by former senior technology bankers from major Wall Street investment banks. With offices in Boston, San Francisco and Los Angeles, Revolution applies partner-level experience to the successful execution of advisory and financing transactions for emerging technology companies in industry sectors including software, Internet business services, telecommunications, wireless, clean tech, digital media, storage and semiconductors. For more information, visit www.revolutionpartners.com. |
