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
-- 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
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.
IAC Communications Office IAC Investor Relations
Stacy Simpson / Leslie Cafferty Eoin Ryan
(212) 314-7470 / 7326 (212) 314-7400
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