The lead headline in yesterday’s iHealthBeat blared: SureScripts Acquires Chief Rival, Boosts E-Prescribing Network.
The acquisition [of MedAvant] will allow 5,000 to 10,000 more physicians to have electronic access to between 10,000 and 15,000 more pharmacies nationwide, according to SureScripts’ CEOKevin Hutchinson, Healthcare IT News reports.
The purchase could prompt e-prescribing vendors to ensure that their customers have the most updated version of technology and can complete the electronic transactions, Hutchinson said (Monegain, Healthcare IT News, 5/1).
Health care analysts said the purchase could expedite the use of e-prescriptions by physicians because they will not have to choose between the competing firms’ products, the Post reports (Washington Post, 5/2).
Sounds like the merger of XM and Sirius, or Sony and Apple, doesn’t it?
So what’s the purchase price? Only $500,000, of which $100,000 is being held back as a contingency. That works out to $50 to $100 per doc or $35 to $50 per pharmacy.Â By contrast, Cablevision is being taken private for $10.6 billion, or over $5000 per subscriber!
So let’s face it, MedAvant has made little progress in the market and is being picked up for nothing.May 3, 2007