Quayle Munro, leading international corporate finance advisers in media, information and technology, has advised Hearst Corporation (“Hearst”), one of America’s largest diversified media companies, on the acquisition of UK-based Map of Medicine, a leading provider of evidence-based health care information. The company was acquired from Informa plc for an undisclosed amount. Quayle Murno advised Hearst Business Media, a division of Hearst.
Map of Medicine was founded in 2000 at London’s Royal Free Hospital by Owen Epstein, M.D., and Mike Stein, M.D. It has grown quickly to become a leading provider of evidence-based health-care resources. The company provides health practitioners with clinical information on a range of relevant medical issues, accessible from anywhere with just a Web browser. Its “Map” is core to the NHS modernisation program known as “Connecting for Health”. The Map offers high-quality clinical information visualized in 392 patient pathways. The Company is also working with a range of NHS agencies to use the Map for communication of national rules and regulatory requirements.
Hearst Corporation is one of the largest diversified communications companies in Its portfolio includes magazines, newspapers and business publishing, television production, internet businesses, information services, electronic databases and newspaper features distribution and real estate. With the acquisition of Map of Medicine, Hearst hopes to help improve the quality and effectiveness of health-care for governments and societies. The Company will be managed out of London as a separate operating unit of Hearst Business Media. Combined with Zynx, Hearst’s evidence-based data system for the health care industry in the US, and First DataBank, the world leader in drug-related clinical decision support, the Corporation is well positioned to drive growth of its medical information offering.
Kit van Tulleken, Quayle Munro, commented:
“The Map of Medicine significantly bolsters Hearst’s leading position in clinical decision support, providing a tremendous platform for international growth. We are very pleased to have been advisers to Hearst on such a key transaction.”
Victor F. Ganzi, President & CEO, Hearst Corporation, said:
"The acquisition of Map of Medicine demonstrates Hearst's commitment to improving the quality and effectiveness of health-care for governments, societies and individuals. It also exemplifies the Corporation's continued international growth and diversification.”
Richard P. Malloch, President of Hearst Business Media, said:
"Map of Medicine, in combination with Zynx and First DataBank, will allow us to significantly grow our international health-care information business into the future. The combination of these businesses makes Hearst a leader in clinical decision support. With this acquisition, we now have an unparalleled collection of clinical databases and software, as well as a world-class group of physicians, nurses and pharmacists in the global health-care industry."
Mike Stein, M.D., Chief Medical Officer, Map of Medicine, said:
"We are delighted to join Hearst Corporation and look forward to the many opportunities we will have with the combination of these databases and executives. Together with Zynx, I believe we are going to make a tremendous difference in health-care. As a result of the Map of Medicine's success, demand is growing internationally, particularly in markets where health-care services are provided publicly, such as Australia, New Zealand, Canada and the Nordic countries."