| |
MedPanel Gets New Owner and New Name
Financial services group MCF has acquired online medical research agency, MedPanel; renaming it Panel Intelligence and announcing plans to expand its services across additional markets including biotechnology, pharmaceutical, medical device and financial services.
The deal was valued at $6.5 million and MCF registered 1,548,119 shares of common stock for resale prior to close of transaction.
Commenting on the acquisition, Jon Merriman, Chairman and CEO of MCF said: 'The initial reception to Panel Intelligence from our current and prospective clients has been excellent. We expect that this new MCF subsidiary will rapidly contribute to faster growing and more profitable recurring revenue opportunities for our firm.'
MedPanel will continue as a brand, consisting of health care and life sciences research data for industry clients and institutional investors. Meanwhile Will Febbo, CEO of MedPanel takes on his new role as CEO of Panel Intelligence and as a member of MCF's board of directors.
Panel Intelligence is based in Cambridge, Massachusetts and its product, MedPanel, offers customised qualitative, quantitative and syndicated health care research. San Francisco-based MCF provides investment research, corporate and venture services, asset management and primary research through its operating subsidiaries, Merriman Curhan Ford, MCF Asset Management, and now Panel Intelligence. The firms are online at www.medpanel.com and www.merrimanco.com .
|
