A Medical Device Daily
WebMD Health (New York) reported that it and Marketing Technology Solutions (MTS; Jersey City, New Jersey), the owner of QualityHealth.com, have mutually terminated their previously disclosed merger agreement (Medical Device Daily, Sept. 16, 2008).
WebMD reported that it has entered into an advertising services agreement with MTS. In addition, WebMD has acquired a minority preferred interest in MTS. Financial terms were not disclosed.
Under the advertising services agreement, WebMD will represent a portion of QualityHealth.com's media inventory in the marketplace and WebMD will provide QualityHealth.com with limited access to certain of its inventory.
WebMD had originally agreed to acquire MTS for $50 million in cash, and had also agreed to pay up to an additional $25 million in cash if certain performance thresholds were achieved relating to calendar year 2009.
Established in 1999, QualityHealth.com is one of the 10 largest health web sites, with about 5.5 million unique monthly visitors.
WebMD is a provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through both public and private online portals and health-focused publications.