Off Topic
A company I've been following and accumulating for a while issued the following PR regarding Medsite.com:
www2.cdn-news.com
FYI Medsite.com plans a public offering in fall
MINNEAPOLIS, Minn., June 17 (Reuters) - Medsite.com Inc., a company offering a range of medical services and products over the Internet, said Thursday it planned to take the company public this fall.
''We're looking at this fall for an IPO (initial public offering),'' Sundeep Bhan, chairman and chief executive officer, told Reuters at the 1999 US Bancorp Piper Jaffray Conference.
Bhan and three other graduates of the Wharton School of the University of Pennsylvania founded the Web site, located at medsite.com, in 1997.
Offerings on the site include MedBookStore.com, which sells over 100,000 medical titles, MedSupplies.com, which sells discounted medical supplies and MedMail.com which offers medical professionals free e-mail.
The site attracts 6,500 customers each day. About sixty percent of Medsite.com's revenues come from electronic commerce transactions, while 40 percent come from its program called Pharmadirect, which is an alliance with various pharmaceutical companies, Bhan said.
Under the Pharmadirect program, doctors can collect so-called ''digital coupons'' for savings on books and medical supplies offered on Medsite.com after they review product information on drugs provided by pharmaceutical companies, which subsidize the digital coupons, Bhan said.
But Medsite.com faces a crowded field. It has links to 500 other medical-related Web sites, some of which offer the same services.
For example, Medsite.com has a link on Healtheon Corp.'s (Nasdaq:HLTH - news) WebMD portal. Both companies offer doctors and medical professionals e-mail, access to medical journals and sales of medical supplies.
Bhan acknowledged the overlap, but said the Internet is so vast that there will always be other opportunities.
''If you look at the services that are being offered out there, I think we can all say that in the next six to 18 months there is going to be a lot of consolidation in our sector,'' Bhan said. ''But I think there is still room out there. As consolidation happens, we are talking with other Web sites.''
The latter might be interesting ...
Kind Regards
AK |
