New York, NY (PRWEB) February 13, 2008
DeSilva+Phillips, Media Investment Bankers, announced that its client Ascend Media has sold its Healthcare Division, which consists of multiple titles, to Intellisphere, publisher of the MDNG (MD Net Guide) series of medical magazines and Web sites.
The Ascend Media assets purchased by Intellisphere include the following print publications and affiliated online properties:
- The American Journal of Managed Care
- Cardiology Review
- Pharmacy Times
- Resident & Staff Physician
- Surgical Rounds
- Family Practice Recertification
- Internal Medicine World Report
- Physician's Money Digest
"These are some of the most respected and recognized titles in this market," says Mike Hennessy, Chairman and CEO of MJH & Associates, parent company of Intellisphere, LLC, which assumed control of the new media properties. "This acquisition is a key step in our growth strategy for 2008 and is an exciting opportunity for our company to enhance our print assets while increasing our visibility as an e-media solution provider."
"The acquisition of the Ascend titles accelerates our commitment to new markets," Hennessy commented. "By expanding our reach in the areas of cardiovascular medicine, pharmacy medicine, internal medicine, family practice, managed care, surgical medicine, and personal finance for physicians, we provide a potent array of options and channels for our readers and marketers who are looking to target specific healthcare audiences."
DeSilva + Phillips, Media Investment Bankers, represented the seller, Ascend Media, in the transaction, which is among nine transactions it has completed in the healthcare media sector in the last fourteen months.
About Ascend Media, LLC (http://www.ascendmedia.com):
Ascend Media is a diversified business media company that owns and operates professional magazines and journals; organizes trade shows, conferences and educational programs; and maintains online properties and databases serving the medical and healthcare industry. In the medical, custom event media and allied healthcare industries, the company publishes more than 30 journals and magazines and serves more than 40 medical associations with daily newspapers, directories and marketing programs, as well as organizes continuing medical education programs and symposia. Formed and incorporated in 2002, Ascend is financially backed by two of the world's most prestigious private equity firms, CCMP Capital (formerly J.P. Morgan Partners) and Veronis Suhler Stevenson. Ascend Media is headquartered in Overland Park, KS.
About Intellisphere (http://www.medng.com)
A pioneer in the integration of print and Internet media, Intellisphere, LLC is the publisher of the award-winning series of MDNG journals, custom publications, websites, and e-mail newsletters (eDigests) (http://www.mdng.com). Published in nine editions with a unique, contemporary voice, style, and look, MDNG explores technology, computers, and the Internet, from the very practical to the most sophisticated, and the impact they have on the professional and personal life of the physician. Connecting more than a quarter of a million physicians and specialists to current and emerging healthcare technology trends, hundreds of online resources, and the latest breakthroughs affecting their medical practice, the MDNG series of publications, sites, and custom products have continually profiled the best online content for physicians, patients, and their caregivers.
About DeSilva+Phillips, Media Investment Bankers (http://www.mediabankers.com):
DeSilva+Phillips, Media Investment Bankers, is a New York-based investment bank specializing in the media, digital media and healthcare communications industries. The firm provides M&A services and private placements of debt and equity to the medical and healthcare media, magazine, Internet, newspaper, book publishing, trade shows and events, information, educational, and marketing-services industries. Dr. Morris Levitt, Ph.D., leads DeSilva+Phillips life sciences M&A specialty. DeSilva+Phillips has completed more than 195 transactions since 1996. DeSilva+Phillips Corporate Finance LLC is a member of FINRA and SIPC.