Hearst Corp. is bolstering its healthcare initiatives with the formation of its newest brand, Hearst Health, announced Monday.
Though best known for its media presence, the company isn't unfamiliar with the healthcare business. Hearst has been involved in the healthcare information industry for more than 30 years, according to a company news release. But its effort to unite the five health information companies it owns and operates is a new step for the New York-based brand.
“Our companies complement each other under their shared mission of putting vital information into the hands of everyone who touches a person's health journey,” Richard Malloch, Hearst Business Media president, said in the release. “Establishing the Hearst Health brand will elevate the awareness of what we do in the healthcare marketplace.”
Hearst Business Media oversees the new Hearst Health, which includes FDB (First Databank), Zynx Health, MCG (formerly Milliman Care Guidelines), Homecare Homebase and Map of Medicine. The brand also encompasses Hearst Health Ventures, a fund that invests in health information technology startups, and the Hearst Health Innovation Lab that develops healthcare IT products and prototypes.
“We are looking to develop and fund revolutionary solutions to healthcare's biggest problems,” Malloch said in the release. “Through Hearst Health Ventures and the Innovation Lab, we will advance businesses that provide more scalable and cost-effective solutions for high-quality patient care.”
Care guidance from its health companies each year reaches more than 75% of patients discharged from hospitals, 20 million patient home visits, more than 133 million insured individuals, 1.8 billion retail pharmacy prescriptions and 3.25 billion prescription claims, according to Hearst. Overall, privately-held Hearst Corp. was projected to bring in nearly $10 billion in revenue last year.
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