Online health sites Waterfront Media and Revolution Health Network have reached an agreement to merge and will pose a potential threat to WebMD’s top position in the health care category.
The deal is reportedly valued at $300 million, and would give the two companies enough unique visitors to directly take on WebMD. Combined the deal would give Everyday Health, operated by Waterfront Media and Revolution Health Network 20 million unique visitors per month according to com Score.
Waterfront Media CEO and co-founder Benjamin Wolin will remain chief executive officer of the new company. Steve Case, chairman and CEO of Revolution Health Group, and an additional member of Revolution Health’s board of directors to be named later, will join the Waterfront Media board of directors.
The company will keep the name Waterfront Media, and will operate all sites under the Everyday Health Network, which includes WhatToExpect.com, SouthBeachDiet.com, and JillianMichaels.com. The company will remain headquartered in Brooklyn, New York.
“When we entered the health care market we knew one of the areas we wanted to focus on was using the Internet to empower consumers and give them more choice, control and convenience,” said Case.
“The merger of Waterfront Media and Revolution Health Network builds on each company’s complementary strengths to create a new industry powerhouse — thus enabling us to accelerate our efforts to reach the largest, most engaged audience and help people stay healthy, manage chronic disease and deal with serious illness.”
