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Johnson & Johnson was lead suitor of HealthMedia for months

Wednesday, November 05, 2008

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Ann Arbor

The newest owner of HealthMedia, Johnson & Johnson, has been trying to make a play for the Ann Arbor start-up for a while now.

Excerpt:

Johnson & Johnson was among the companies pursuing HealthMedia Inc. even before the Ann Arbor business quietly put itself on the market in January, president Ted Dacko said Tuesday.

HealthMedia got as many as two calls a week last year from investors and potential buyers interested in the online health coaching firm - including Johnson & Johnson, Dacko said. But he, founder Victor Strecher and HealthMedia's board of directors weren't interested in selling then.

But the calls became so persistent that they hired an investment banking company to explore a possible sale earlier this year. By July, Johnson & Johnson - a customer since 2003 - was HealthMedia's lead suitor.

And interest from Johnson & Johnson appears tied to the company's desire to create a new health wellness and prevention business.

Read the rest of the story here.