With a $140 billion spent world wide on Medical products it isn't a surprise that people are going to try and do what Medsite.com has already successfully done for a while now.
Neoforma.com's lack of sales isn't surprising. Both Neoforma.com and Medibuy.com have been building their sites for the past three years. At the end of June they still weren't officially up and running.
Medsite.com has been on the net for several years and has been selling medical products online since the start of the year with revenues around $12-15 million for the last year and predicted $50 million for next year. However unlike Neoforma.com and Medibuy.com, Medsite.com also offers books, insurance, credit cards, form filings, online education, financial planning, . etc., etc.,. So far I have not found a medical site that can compare to Medsite.com. In addition Medsite.com is partners with and linked to some of the biggest names on the net which will give it a competitive advantage for page views (e.g partners - Medscape, Medcast, WebMD, QD Online, Physicians Online, etc.)
I have talked with both the Pres. and CFO of Medsite.com and they have always stuck to the timeline that Medsite.com would do the IPO in the fall (mid-Nov.). This is also what Jim from JDX will tell you. However the guys from Medsite.com have hinted that depending on the market and a couple of pending deals they have in the works they might delay the IPO until the first week of Jan. It is already Oct 18 and the S1's are not out so I can only assume that they are going to wait until the first week of Jan. until proven wrong.
If you look at historical data you will find that on average the first 7 trading days in Jan. are the period of greatest stock compared to the rest of the year. If Medsite.com does do it during this week we will get a little more bang for the buck.
Best Regards
KEITH |
