Acquisition to Provide One of the Largest Installed Bases of Physicians Among All Online Healthcare Companies
NEW YORK, Dec 15, 1999 (BUSINESS WIRE) --
Medsite.com, a rapidly growing ehealthcare portal and the physician's home on the Internet, announced today the acquisition of Total Health Products, one of the nation's largest fulfillment services companies for the pharmaceutical industry.
By acquiring Total Health Products, which has projected 1999 revenue of $15 million, Medsite will gain access to more than 140,000 physicians in the United States who are currently customers of THP's fulfillment services. As a result, Medsite will have one of the largest installed bases of physicians among all online healthcare companies and will immediately be in position to market its e-commerce offerings directly to more than 250,000 doctors and healthcare professionals.
Total Health Products (THP), headquartered in Bloomfield, New Jersey, provides logistical services to companies educating doctors on new drugs, new therapies and other topics. THP provides incentives for physicians to participate by offering credits for medical books and supplies. In addition, THP sells more than 40,000 products including medical equipment, supplies, furniture and textbooks directly to physicians. THP's services will be integrated into Medsite's pharmaceutical sales initiatives and access to all of THP's products will be available to physicians at the Medsite.com website.
Douglas Mack, founder and president of Total Health Products, will continue with the company as Executive Vice President of Commerce to ensure continuity of services.
"The acquisition of THP is a watershed event in Medsite's growth strategy," said Sundeep Bhan, founder and CEO. "Access to THP's loyal following provides an immediate, quantum boost to Medsite's sales and its user base, which now represents more than 30 percent of all physicians and medical students in the U.S."
"In addition," Bhan continued, "by combining Total Health Products' activities and client base with those of Medsite, we can help better meet the emerging needs of our customers. As part of our overall strategy to be the physician's home on the Internet, the seamless integration of Total Health Products' services and products into Medsite.com will facilitate the use of and make doctors more comfortable with the Internet and E-commerce transactions." |
