Physicians Interactive LLC, a Libertyville, Ill.-based provider of digital sales and marketing solutions, has acquired MedManage Systems Inc., a Bothell, Wash.-based provider of online drug sampling solutions. No financial terms were disclosed. Physicians Interactive is owned by Perseus LLC. MedManage has raised over $45 million in VC funding since 2000, from firms like Lilly Ventures, Prism VentureWorks, QuestMark Partners and Versant Ventures.
Physicians Interactive LLC (PI), a leader in digital sales and marketing solutions, today announced the acquisition of ., the nation’s leading provider of online, on-demand prescription drug sampling. Under the agreement, MedManage is now a wholly owned subsidiary of Physicians Interactive LLC. Terms of the acquisition were not disclosed. PI is owned by Perseus LLC, a merchant bank and private equity fund management company.
The acquisition of MedManage, a PI partner, is part of PI’s vision to support the expanding digital sales and marketing information needs of life science companies and their health care professional customers.
“MedManage is a valuable addition to the PI family. The company provides more direct-to-practitioner eSampling solutions to more major pharmaceutical companies and their brands than anyone else in the industry,” said Donato Tramuto, CEO and vice chairman of Physicians Interactive Holdings, LLC. “We believe that this acquisition aligns nicely with the PI Digital Strategy and with the financial backing of Perseus LLC, allows us to expand our value proposition to our customers in the life sciences industry.”
Based in Bothell, Washington, MedManage’s eSampling solutions allow life sciences companies to efficiently reach more health care providers via its web-based Samples On Demand™ service which is powered by the company’s regulatory compliant electronic drug sampling platform. Health care providers are able to obtain consistent supplies of medication samples to meet the needs of their patients by accessing the Sample Service via PI and other web-based portals operated by independent providers of medically-relevant information and services, pharmaceutical companies and healthcare organizations. The Samples On Demand service is available to almost a quarter of a million eligible prescribers across the country.
“Joining forces with PI brings together two recognized industry leaders to address the growing needs of pharmaceutical companies and healthcare providers for online, on-demand access to vital information and services,” said Cecil Kost, president and CEO, . “We are excited about developing new and innovative solutions with PI while remaining committed to our industry-neutral, multi-channel deployment model for our Samples On Demand service.”
Today, health care professionals are turning to electronic media and online tools to support professional needs at a rising rate. Through a proprietary platform that provides services including eDetailing, eSampling, clinical updates and online communities, PI complements life science companies’ offline strategies while providing digital tools that help health care professionals meet the needs of their patients.
In addition to wholly owned services, PI has established unique data partnerships. PI and Allscripts are collaborating on innovative and novel offerings that leverage Allscripts’ strength as the leading provider of electronic health records and e-prescribing solutions. Future partnerships will look to further enhance the company’s data and analytics capabilities.
Under the terms of the acquisition agreement, MedManage will continue to be led by Kost, who will report to Tramuto.
About MedManage Systems
Started in 1999, MedManage is the leading online drug sampling provider in the industry. The company’s Samples On Demand™ service connects pharmaceutical manufacturers’ brands with their customers through a network of physician portals which provides users near ubiquitous access to medication samples. MedManage is the only company to enable eSampling for a pharmaceutical manufacturer on an enterprise-wide basis and was the first to deploy a fully electronic sample ordering method. The company headquarters are located outside Seattle, WA. Additional information on MedManage can be found at www.medmanagesystems.com.
About Physicians Interactive
Physicians Interactive is the leading digital sales and marketing partner for life sciences companies seeking to reach physicians and other health care professionals. Since 1996, PI has developed more than 1,000 online programs for more than 150 brands throughout every stage of the product life cycle. PI’s client list includes nearly 75 pharmaceutical, biotech and medical device companies, including nine of the top 10 worldwide pharmaceutical corporations. The company has become a trusted resource for health care professionals, evidenced by its database of providers, the largest in the industry. PI is owned by Perseus LLC, a merchant bank and private equity fund management company. For more information about Physicians Interactive, visit www.physiciansinteractive.com