Merck GHI takes over Physicians Interactive

Global Health Innovation Fund LLC, the corporate venture capital investment affiliate of US-based healthcare company Merck, has acquired a controlling interest in Physicians Interactive (PI), a US-based provider of online and mobile clinical resources and solutions, from merchant bank and private equity fund management company Perseus, 

Financial terms of the deal were not disclosed.

Previously, in January 2012, Merck Global Health Innovation Fund agreed to invest up to $17m in PI: the financing included an initial investment of $8.5m and potential future investments of up to $8.5m contingent upon achieving certain milestones.

PI was founded in 2008 and is a division of Skyscape.com, which was acquired by PI in 2009.  PI has been built through the acquisition of several internet product and services companies.

Norman Selby, founding chairman of PI and senior advisor to Perseus, said: “Our goal in building PI was to combine and integrate a number of high-value digital products and services under one company to create a better experience for physicians and the healthcare community.  Working with PI’s founding chief executive officer, Donato Tramuto, and his strong leadership team, we’ve achieved that goal.”