VerusMed (www.verusmed.com), the medical information business unit of ConnectivHealth, Inc. (www.connectivhealth.com), has been sold to Intellerus, LLC, a private investment firm headed by Roscoe C. Smith, III, a veteran media industry executive. Terms of the transaction were not disclosed.
JEGI CLARITY (www.jegiclarity.com), the leading provider of independent investment banking services for media, information, marketing services and related technologies, advised ConnectivHealth on this transaction.
Roscoe Smith will become Chairman & Chief Executive Officer of VerusMed, and June Manning will continue in her position as Editor in Chief, as will Erica Brown as Director, Professional Strategies. Jennifer Brubaker has been named Chief Financial Officer of VerusMed, Michael Bouldin Vice President, Human Resources and John Walker Director of IT.
VerusMed, an evolution of Faxwatch, provides timely, unbiased medical information to physicians, healthcare professionals, pharmaceutical and biotechnology executives. With its concise and objective editorial approach, VerusMed ensures that physicians and healthcare professionals receive the most relevant therapeutic updates. With more than 150,000 readers across several dozen therapeutic and industry segment-specific publications, VerusMed is able to leverage its market connectivity to help companies in pharmaceutical, biotechnology and managed care industries to establish their brands and build rapport with key physician audiences. In addition to its therapeutic updates, VerusMed publishes Health Care Business Daily and Managed Markets Update, the leading sources of business news for healthcare industry executives.
“We plan to build on the successful business foundation that the VerusMed team has created over the past 15 years,” said Mr. Smith. “The amount of information that physicians require to practice effectively is expanding at an increasing rate. We will invest in enhancing the VerusMed publications to better help physicians manage this ever increasing information flow and look for opportunities to build on the existing publications, as well as pursuing acquisitions of complimentary information and media businesses serving the healthcare industry.”
Mr. Smith has more than 30 years experience building business media companies. He was most recently CEO of Agent Media Corp., an integrated media and marketing services company serving the insurance and financial services industries. Prior experience includes serving as President of PBI Media, LLC, President of Knowledge Industries Publications, Inc. and Publisher of Architectural Record.