Here’s news of a huge deal for Asheville-based DoctorDirectory.com, an Asheville company that’s been flying under the radar (at least locally) for awhile now: Everyday Health, Inc., a provider of digital health and wellness solutions, bought DoctorDirectory.com for $65 million in cash. DoctorDirectory.com provides marketing services to pharmaceutical companies.
Here’s the press release:
On November 10th, 2014, Everyday Health signed a definitive agreement to acquire DoctorDirectory for a total purchase price of $65 million in cash. Based in North Carolina, DoctorDirectory provides pharmaceutical companies with multi-channel marketing services that target healthcare professionals. The transaction is expected to close on November 12th, 2014.
The acquisition of DoctorDirectory will significantly expand Everyday Health’s reach among healthcare professionals, and enable the combined entity to offer an expanded suite of content and tools to this large audience. In addition, DoctorDirectory’s expertise in utilizing data and analytics for pharmaceutical marketing programs that generate prescription lift is expected to expand Everyday Health’s customer set and strengthen the Company’s ability to offer innovative marketing solutions that achieve optimal results.
In connection with the DoctorDirectory acquisition, Everyday Health expanded its existing credit facility from $75 million to $115 million – consisting of $60 million in term debt and $55 million available under a revolver.
“We are very pleased with our financial results in the third quarter,” said Brian Cooper, CFO of Everyday Health. “Our professional business grew over 35% in the first nine months of this year, and our continued investment in this large market opportunity – highlighted by our strategic acquisition of DoctorDirectory – should enable us to further increase our share of marketing dollars targeting healthcare professionals.”
More about DoctorDirectory from its website:
Since 1996, our powerful search engine has matched thousands of patients seeking medical services with the right Healthcare Professional.
We also provide Healthcare Professionals the opportunity to participate in Market Research and other programs that help shape the healthcare industry.
We specialize in providing marketing and marketing research solutions to pharma brand teams and their agencies by communicating clinical, product and marketing research information to healthcare professionals. Click here to find contact information for our corporate services.