O’Melveny Represents Alliance Health Networks in Acquisition of MedifyMay 16, 2012
FOR IMMEDIATE RELEASE
Julie Fei Piper Hall
O’Melveny & Myers LLP O’Melveny & Myers LLP
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SILICON VALLEY, CA ─ MAY 16, 2012 ─ O’Melveny & Myers LLP represented Alliance Health Networks, a leading social networking company serving consumers and the healthcare industry, in its acquisition of Medify, a provider of data-driven treatment information. Financial terms of the acquisition were not disclosed.
The deal is expected to close this week.
The O’Melveny team was led by Silicon Valley partners Jennifer DePalma and Samuel Zucker.
About O’Melveny & Myers LLP
With approximately 800 lawyers in 15 offices worldwide, O'Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com.
The following press release was issued by Alliance Health Networks.:
Alliance Health Networks Acquires Medify to Strengthen Social Health Networks for Consumers and Industry Partners
•Medify’s Expertise in Analyzing Deep Data Will Provide Consumers with Unique Treatment Insights
•Medify CEO and CTO to Join Alliance Health’s Leadership Team to Assist in Building Industry-Defining Engagement Platform
•Alliance Health Currently Serves 1.5 Million Registered Members Across 50 Distinct Social Networks
SALT LAKE CITY — May 15, 2012 -- Alliance Health Networks, the leading social networking company serving consumers and the healthcare industry, today announced that it has acquired Medify, a leading provider of data-driven treatment information, to offer patients and caregivers the industry’s most comprehensive social engagement platform.
Alliance Health will integrate Medify's unique treatment insights across the company's growing portfolio of social health networks – some 50 condition-specific sites that serve more than 1.5 million registered users. Likewise, Medify will integrate user-generated content from Alliance Health properties into its products. Medify.com will also remain a standalone website, providing aggregated research generated by its award-winning data analytics and knowledge extraction platform to help consumers and health care providers search and compare information across every health condition, treatment and drug.
Since its founding in 2010, Medify has raised venture capital from Voyager Capital and several leading angel investors. Financial terms of the acquisition were not disclosed.
Medify co-founders Derek Streat (CEO) and Jay Bartot (CTO) will join the Alliance Health leadership team as senior vice presidents, bringing deep expertise in business and technology development to help scale the company's social engagement platform. Streat's career has focused on solving hard problems to help people in their everyday lives. As a member of the initial executive team at Classmates Online, Streat oversaw corporate development strategy, taking the company from inception to $100 million in revenue and 60 million subscribers over six years. Streat also held executive positions at Unitus and was a co-founder of Adready.
Bartot has co-founded and led the technology development of several data analytics companies, including Farecast.com, an innovative consumer travel site that was acquired by Microsoft and became the cornerstone of its Bing Travel site. He was also a cofounder of AdRelevance, an advertising measurement platform that was acquired by Nielson/NetRatings. The full Medify team, which includes key members of the Farecast engineering team, will remain in the Seattle office, which Alliance Health will expand to complement its product and engineering teams at its Salt Lake City headquarters.
"As social networks continue to transform industries and change the way people live, Alliance Health remains focused on empowering people to successfully navigate their personal health journey, free and independent of the healthcare system," said Stead Burwell, CEO of Alliance Health. "The acquisition of Medify brings us two critical elements — powerful data analytics technologies and an extremely accomplished team — which reinforce our status as the industry’s most robust social engagement platform. Combined, we will be in the best position to help consumers make smart health care decisions by providing a unique combination of relevant knowledge and tools for every drug, treatment and condition."
Medify's patent-pending technology mines more than 20 million studies of real patient experiences from disparate data sources, including research studies from researchers, doctors and other medical professionals, and presents them on an easy-to-navigate website. An additional 5,000 new studies are added to the site each day.
As the state of healthcare continues to evolve, transparency becomes an increasingly important factor for consumers striving to manage their patient experience. Through the Medify acquisition, Alliance Health will be able to offer more comprehensive access to relevant health information across all of its properties, including Medify.com, to aid consumers as they make important health decisions, including the ability to:
•View treatment details
•Compare side effects
•View the latest research on specific conditions
•Share personal findings and experiences
•Start evidence-based discussions
•View rankings of experts
"We could not be happier about the opportunities this new relationship brings," said Streat. "We are so like-minded in our commitment to transforming healthcare through social networking and data analytics that it's made joining forces a natural fit. I look forward to working with the Alliance Health team to integrate our products, capabilities and knowledge in order to bring people together and give them access to the tools and support they need to best navigate their health journey."
About Alliance Health Networks
Alliance Health Networks is building a free and independent social engagement platform that gives people the power to navigate their personal health journey. The company owns and operates more than 50 social networks and 20 mobile versions serving over 1.5 million registered members. We leverage social networks to help consumers more actively manage their care through personal connections, powerful tools, and deeper insights. Our investors include New World Ventures, Physic Ventures, Highway 12 Ventures, and EPIC Ventures.