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WEBMD purchases "Physician's Online"; reports fourth quarter charges.

WebMD Corp. (Elmwood Park, NJ) has acquired the Internet portal resources of Physician's Online (Boca Raton, FL) from Andrx Corp. (Davies, FL) for $2 million in cash. The acquired property is a portal for physicians, providing professional communications, peer-to-peer discussions, medical information and related resources.

The acquired assets will be added to WebMD's Medscape Health Network, an online channel used by pharmaceutical and medical device companies as well as employers, health plans and others In healthcare to "educate and communicate with the nation's largest integrated community of online physicians and patients," WebMD said. In December, WebMd acquired Mediafax-EDI (Nashville, TN).

Also, the company said that results for fourth quarter 2003 will include approximately $3.5 million in expenses related to an investigation by the U.S. Attorney for South Carolina, $1.6 million on investments liquidated in order to fund the purchase of Media-fax, and a gain of $3.1 million on the sale of some real estate assets.
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Comment:WEBMD purchases "Physician's Online"; reports fourth quarter charges.
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 31, 2004
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