Tom Paine (@Phillytechnews)
The Wall Street Journal’s Pro Private Equity report (special subscription required) reported earlier this month that Philly-based Health Union LLC was exploring a possible sale, and had hired the investment bank Lazard Ltd. to assist in the process.
Health Union is a strong competitor in the emerging market for online healthcare communities, in which users join forums geared to their specific healthcare conditions. Founded in 2010 by two former GlaxoSmithKline marketers, CEO Olivier Chateau and President Tim Armand, Health Union today has 25 different communities ranging from Migraine.com to MultipleSclerosis.net.
It was ranked #906 on this year’s Inc. 5000, with 2018 revenue of $29.6 million versus 2017 revenue of 17.9 million. Employment was 126 at the beginning of this year. A Health Union spokesperson tells me that the company is fully private and not funded by any VC or PE. Its owned by the two co-founders.
Pharma companies can use the site to target messages to specific communities for product advertising, getting feedback, surveys, and recruiting for clinical trials.
Health Union has been sending around information to potential buyers since October, the Journal reports.