Pewaukee-based in-hospital education television network, The Wellness Network has acquired Milner-Fenwick, a Maryland based patient education video publisher. The deal was closed on Friday, but the actual terms of transaction were not disclosed.
About Milner-Fenwick
Milner-Fenwick creates peer-reviewed health education videos, that includes-
- HealthClips Essentials
- HealthClips In Depth
- HealthClips Home DVD
- HealthClips Waiting Room
The company has about 20 employees, and the videos it creates serves health providers, like hospitals; payors, such as insurers; partners, including web publishers; and advocates, such as gyms.
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All Milner-Fenwick’s employees would be kept on in the transaction. That also includes its former owners David and Richard Milner.
About The Wellness Network
The Wellness Network is amongst the largest in-hospital education networks in the country. It encompasses around 2,300 hospitals and 300,000 screens (TV, tablet). They also collaborate with a number of organizations which includes the American Heart Association, the American College of Physicians and the American Association of Diabetes Educators. The company has a library that features around 2,800 videos and print materials, these materials enables the hospitals to engage and educate patients on a variety of subjects to handle self-management and treatment adherence after they leave the hospital.
The Acquisition
1. Dave Ross, CEO of The Wellness Network said – “(Milner-Fenwick is) a very strong production and content company and they do a lot of original production out of their Baltimore facility,” he added “We don’t do any of that original production out of our group here, or at least we don’t have production employees. So, it’s a good fit.”
2. The Wellness Network has gained a library which included nearly 700 videos. Most of these videos are available both in English and Spanish. This is to increase its selection of condition-specific educational content and offer providers with a more comprehensive solution for patient education.
3. With this acquisition the customer base of both the companies would account for half of the hospitals in the United States. With the acquisition of Hunt Valley, Milner-Fenwick, The Wellness Network instantly ups its client base to 3,200 hospitals.
4. By way of this acquisition, The Wellness Network will be able to offer a broader scope of condition-specific educational content. This means that the healthcare organizations would not have to depend on more than one network or library to provide content to their patients.
5. The president of Milner-Fenwick David Milner said that this acquisition will allow the company to scale up to meet an increasing demand for videos across multiple platforms.
Milner-Fenwick Is The Best in Class
Dave Ross says that when it comes to making and distributing paitent education videos they are good, but Milner-Fenwick is the best in class in his opinion, He said – “I think they’re the best in the country and that’s why I was interested in them.”
The growth of The Wellness Network has seen a rapid growth as more hospitals adopt patient education products. The company has set itself apart from about five national competitors by getting more content and more ways to access it.
Collective, the companies would work with more than 53 percent of U.S. hospitals. They will continue to grow and expand their video library and deliver it to patients to increase their understanding and engagement.
Dave Milner, president of Milner-Fenwick said – “My family has spent over 40 years pioneering and evolving the patient education video format to enhance and support today’s health care communication environment” he added “As part of The Wellness Network, our tremendous library will be seen by more patients and their families and ultimately have greater impact on ROI for health care providers.”
Date: 19 May, 2017