April 18, 2007 03:17 AM | Press Release
Boston, MA — April 18, 2007 — Covington Associates LLC announced today that it acted as the sell-side advisor to MedPanel, Inc. (MedPanel), a medical market intelligence company, in its sale to MCF Corporation (AMEX: MEM).
MedPanel is an online medical market intelligence firm that services life sciences companies and health care investors through its proprietary methodologies and vast network of leading physicians, medical researchers, allied health professionals and other important health care constituencies. The company offers an online research platform that provides its clients with strategic direction for product development, marketing and investment decisions, as well as access to in depth analysis.
MCF Corporation (“MCF”) is a financial services holding company that provides investment research, capital markets services, corporate and venture services, investment banking, asset management and wealth management. The acquisition of MedPanel will enable Merriman Curhan to access the most accurate and up to date analysis of healthcare and medical trends.
According to Dr. Will Febbo, Co-Founder and Chief Executive Officer of MedPanel, “We have specialized in deriving secure, compliant market intelligence from opinion-leading clinicians and administrators, so I’m gratified to announce a deal that will allow us to expand our presence in the life sciences market and obtain a new depth of expertise in financial services.”
Ben Dunn, a Managing Director at Covington Associates and lead advisor to MedPanel on the transaction, was quoted as saying “MedPanel has a great opportunity to leverage its unique research platform through MCF’s numerous relationships.”
About MedPanel, Inc.
MedPanel is a medical market intelligence company providing custom and syndicated medical market research exclusively online. MedPanel’s powerful proprietary methodology and platform enable pharmaceutical, biotechnology, medical device, diagnostics companies, as well as others with an interest in life sciences, to have greater strategic control over the development and commercialization of products, and lower costs overall. Through unparalleled access to clinicians, medical thought leaders and healthcare professionals, and through its interactive, asynchronous approach to medical panels and surveys, MedPanel is able to deliver fast, unbiased, cost-effective and actionable data.
About Covington Associates LLC
Covington Associates is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare and technology companies throughout the country. Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to over $1 billion for both private and publicly traded companies. To learn more about Covington Associates, visit www.covingtonassociates.com.
MEDPANEL ACQUIRED BY MERRIMAN