HealthGrades, an online healthcare ratings and reviews company, is bulking up, acquiring WrongDiagnosis.com and CureResearch.com from Adviware. The $6.2 million cash deal gives HealthGrades the two online communities and their related intellectual property, as well as two years worth of consulting from select Adviware execs. The Australia-based Adviware team also has the potential to earn more from the deal if the two sites exceed certain page view and revenue targets.
Colorado-based HealthGrades says that it expects to start making money from the deal immediately, as the sites brought Adviware roughly $2 million in annual revenue. The company, which operates HealthGrades.com, also says that its new combined reach makes it the ninth largest ad-supported healthcare property per comScore--in light of the recent merger between Waterfront Media and Resolution Health. HealthGrades received an $18 million round of financing led by INVESCO Private Capital back in 2000, according to All Business. Release.
By Tameka Kee