Web portal WebMD Health Corp. has acquired online medical reference publisher eMedicine.com for $25.5 million, according to the purchaser.
The acquisition "further enhances WebMD's ability to deliver diversified promotional and educational programs on behalf of pharmaceutical and biotechnology companies, who spend more than $8 billion annually for promotional and educational programs for physicians and healthcare professionals," the company said in a news release. WebMD reported that privately held eMedicine posted $6 million in revenues in 2005 and broke even on net income.
WebMD operates public portals for healthcare information in addition to developing and maintaining private portals for payers and employers. It is publicly traded, but a majority of its stock shares are held by Emdeon Corp., which spun it off in 2005. Emdeon still holds the claims clearinghouse and IT software development business lines of the former WebMD. At deadline, WebMD officials could not be reached for comment on the purchase.