Physicians Interactive Holdings Inc. Board of Directors Approves Transaction
WASHINGTON, DC–(Marketwired – Aug 7, 2013) – Perseus L.L.C., a merchant bank and private equity fund management company, announced today that it has sold its controlling interest in Physicians Interactive (PI) to the Global Health Innovation Fund L.L.C. (GHIF).
Financial terms of the deal were not disclosed.
PI is the leading provider of online and mobile clinical resources and solutions that fit within the medical professional workflow to provide better patient care and has over 300,000 active healthcare users in the U.S. Its customers include major global pharmaceutical companies as well as selected healthcare IT companies and healthcare professionals. The company was built through the acquisition of several Internet product and services companies beginning in late 2008. Through these acquisitions and internal innovation, PI has developed the foundation of user-generated, proprietary and public data that powers a networked suite of transactional applications.
“Our goal in building PI was to combine and integrate a number of high-value digital products and services under one company to create a better experience for physicians and the healthcare community,” said Norman Selby, founding Chairman of PI and Senior Advisor to Perseus. “Working with PI’s founding CEO, Donato Tramuto, and his strong leadership team, we’ve achieved that goal.”
PI will remain a stand-alone company serving customers and patients throughout the healthcare ecosystem, led by Tramuto. “We are excited to have the opportunity to continue to grow and enhance PI’s innovative products and services,” stated Donato Tramuto. “PI is a fast-growing company and our future is bright.”
The purchase of a controlling stake by GHIF builds upon an initial investment announced in January 2012.
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