OLD Media Moves

Bloomberg developing health care exchange

October 23, 2008

Andrew Edgecliffe-Johnson of the Financial Times writes Thursday that Bloomberg LP is joining forces with an online network for doctors to launch a service allowing investors in pharmaceutical companies to monitor and solicit physicians’ opinions on new drugs, medical devices and therapies.

Edgecliffe-Johnson writes, “Thomson Reuters, Bloomberg’s closest rival in financial information, is similarly looking for closer collaboration between the former Reuters market data and newswire business with the legal, medical and scientific databases in the former Thomson Corporation.

“Daniel Palestrant, chief executive of Sermo, said he expected doctors to welcome the chance to share their opinions with investors. ‘The community is happiest when its voice is being heard,’ he said.

“Sachin Roopani, who developed Bloomberg’s healthcare service, said the Healthcare Exchange would provide investors with faster responses from a larger group than existing expert matching services.

“Bloomberg, which will share revenues from the service with Sermo, was looking to develop similar products for other industries, he added.”

Read more here.

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