HIMSS acquires majority stake in MedTech Media
New York, NY – Jan. 10, 2011 – Berkery, Noyes & Co., LLC, an independent investment bank serving the media, information and marketing services markets, assisted in negotiations and acted as exclusive financial advisor to MedTech Media, LLC’s founder and selling shareholder, Neil Rouda in his sale to the Healthcare Information and Management System Society (HIMSS).
“Two of the healthcare technology industry’s top information and communications providers have deepened their relationship to further serve this robust marketplace,” says Berkery Noyes Managing Director Kathleen Y. Thomas, who represented Rouda in the transaction.
As MedTech’s partner since it was founded in 2003, HIMSS has a deep understanding of its new subsidiary’s values and interests. As part of the deal, MedTech will begin publishing Government Health IT in 2011. Editorial decisions of MedTech’s award-winning publications, Healthcare IT News and Healthcare Finance News, will remain independent and MedTech will continue to produce HIMSS Daily Insider, the HIMSS Expo Yellow Pages, the HIMSS Resource Guide and other annual conference-related publications and products.
“HIMSS’ interest in our company reflects well on the talents and dedication of the people who work at MedTech. We owe our success to our partnership with HIMSS, to the industry we cover, but most of all, to our hardworking employees,” Rouda says.
MedTech’s management team, led by its current president, Jack Beaudoin, will maintain significant ownership in the company.
“Going forward, it is my expectation that the activities of HIMSS and MedTech, while continuing to be run through separate companies, will support mutual growth and our ability to drive improvement and transformation in healthcare through information technology,” says HIMSS president and CEO H. Stephen Lieber, CAE.