NEW YORK, Jan. 28 /PRNewswire-FirstCall/ -- IAC (Nasdaq: IACI)
announced today that it has acquired a significant minority stake in The
HealthCentral Network (http://www.healthcentral.com), a leading collection of
health and wellness web properties, reaching 7.7 million viewers.* Terms of
the deal have not been disclosed.
The HealthCentral Network (THCN) is a collection of over 30 owned and
operated condition-specific and healthy living websites that combine
authoritative health information with tight-knit communities of people,
bringing together patients and experts to share wisdom and personal
experience. The move marks a major push into the online health information
space, and allows IAC to capitalize on THCN's highly integrated online
properties deeply focused on strong consumer-engagement.
"In the online health space, we recognize an underserved market and see
an opportunity to help bring consumers the information and services they
need," said Barry Diller, Chairman and CEO of IAC.
"IAC has a proven track record for bringing consumers what they want
and need online," said Chris Schroeder, CEO of The HealthCentral Network.
"We are excited to help utilize the company's expertise in search traffic,
marketing and advertising to help us expand our operations and continue to
make acquisitions in the online health space."
In addition to the minority stake, Barry Diller and Peter Horan, CEO of
IAC's Media & Advertising sector, will serve on HealthCentral's Board. In
addition to this appointment, Mr. Horan will maintain responsibility for
overseeing IAC's health efforts.
"While the internet, as a medium, continues to become more segmented,
the ability to target and engage consumers is becoming increasingly
important, not only for customer satisfaction, but for attracting
advertising dollars as well," said Horan. "THCN has an outstanding business
model that is very much in line with IAC's portfolio of media and
advertising businesses."
IAC's stake in THCN follows a recent investment in Medem, an integrated
suite of web-based physician-patient communication services, made in the
first half of 2007. Both initiatives reflect the company's recent foray
into the health services category.
Today's move comes after IAC's November 2007 announcement of plans to
separate IAC into five publicly traded companies, spinning off HSN,
Ticketmaster, Interval International and LendingTree. Expected to be
completed in the second or third quarter of 2008, the new IAC will include:
-- The businesses currently comprising its Media & Advertising sector:
Ask.com, Bloglines, Citysearch, CursorMania, Evite, Excite, IAC
Advertising Solutions, InsiderPages, iWon, My Fun Cards, My Way,
Popular Screensavers, Smiley Central, Webfetti and Zwinky;
-- Match.com, ServiceMagic, Shoebuy.com, Entertainment Publications and
ReserveAmerica;
-- Emerging Businesses including Pronto and Gifts.com, Green.com, Primal
Ventures, and InstantAction;
-- IAC Programming businesses including Black Web Enterprises, BustedTees,
CollegeHumor, GarageGames, Very Short List, Vimeo and 23/6;
-- IAC's current investments in Active.com, Brightcove, FiLife,
MerchantCircle, OpenTable, Points.com and SHOP Channel.
* comScore December 2007
About IAC
IAC operates leading and diversified businesses in sectors being
transformed by the internet, online and offline... our mission is to
harness the power of interactivity to make daily life easier and more
productive for people all over the world. To view a full list of the
companies of IAC please visit our website at http://iac.com.
About The HealthCentral Network
The HealthCentral Network, Inc. (http://www.HealthCentral.com) is one of the
top health destinations on the Web, with more than 30 condition-specific,
wellness and general health Web properties.
The company's unique approach offers readers extensive information and
interactive resources - including news, video, and trusted medical
information from Harvard Health Publications and others - and a
patient-to-patient support network where community members can find and
share experiences, resources and recommendations. The company also produces
the nationally syndicated television show, "Medical Breakthroughs with Dr.
Dean Edell," and has a library of nearly 1,000 short-form,
condition-specific videos throughout its network.
By offering connections to renowned experts, a network of patients and
caregivers who share "real world" experience, and in-depth information,
sites in The HealthCentral Network make a meaningful difference in the
lives of patients and caregivers.
The HealthCentral Network was acquired in 2005 by Polaris Venture
Partners, The Carlyle Group, Sequoia Capital, and Allen & Company, and has
a management team that combines decades of interactive media, medical and
journalism experience. CEO and President Christopher Schroeder was the CEO
and Publisher of The Washington Post Co. interactive subsidiary, and
General Manager Bill Allman led Discovery Channel's interactive division.
Contact Information:
IAC Communications Office IAC Investor Relations
Stacy Simpson / Leslie Cafferty Eoin Ryan
(212) 314-7470 / 7326 (212) 314-7400
SOURCE IAC
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Related links:
http://www.iac.com
http://www.HealthCentral.com
CONTACT:
Stacy Simpson, +1-212-314-7470, Leslie
Cafferty, +1-212-314-7326, both of IAC Communications Office,
Eoin Ryan, IAC Investor Relations, +1-212-314-7400
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