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===Public offering=== |
===Public offering=== |
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After a 2008 [[initial public offering|public offering]] was put on hold,<ref>{{cite news|date=September 19, 2008|title=Epocrates’ IPO on hold|publisher=San Francisco Business Times|author=Chris Rauber|url=http://www.bizjournals.com/sanfrancisco/stories/2008/09/22/story16.html}}</ref> Epocrates filed a registration statement again in July 2010 to raise $75 million.<ref name="IPO">{{cite news|publisher=San Francisco Business Times|date=July 16, 2010|title=Epocrates files to raise up to $75M in IPO|url=http://www.bizjournals.com/sanfrancisco/stories/2010/07/12/daily88.html}}</ref> |
After a 2008 [[initial public offering|public offering]] was put on hold,<ref>{{cite news|date=September 19, 2008|title=Epocrates’ IPO on hold|publisher=San Francisco Business Times|author=Chris Rauber|url=http://www.bizjournals.com/sanfrancisco/stories/2008/09/22/story16.html}}</ref> Epocrates filed a registration statement again in July 2010 to raise $75 million.<ref name="IPO">{{cite news|publisher=San Francisco Business Times|date=July 16, 2010|title=Epocrates files to raise up to $75M in IPO|url=http://www.bizjournals.com/sanfrancisco/stories/2010/07/12/daily88.html}}</ref> |
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==Criticisms== |
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Epocrates have been widely criticized for its abuse of access to physicians at the point of prescription-writing by enabling pharmaceutical companies to directly advertise and influence physician decisions. Pharmaceutical companies pay Epocrates approximately $95,000 per physician for this access <ref>{{cite news|url=http://www.gaia-health.com/articles451/000497-bigpharma-mobile-phones.shtml|title=Big Pharma Spends $95 Thousand Per Doctor on Marketing Each Year|date=July 29,2011}}</ref>. |
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==References== |
==References== |
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{{reflist}} |
{{reflist}} |
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==External links== |
==External links== |
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Revision as of 03:23, 16 February 2012
Epocrates, Inc. (Nasdaq: EPOC) is an American company based in San Mateo, California that makes various mobile health software applications under the "epocrates" name, mostly for health care providers, providing them reference information about drugs and diseases, and diagnostic tools.
Products
Epocrates is a publisher of mobile device software applications, designed to provide information about drugs to doctors and other health care professionals. Among the software functions is checking for drug interactions,[1] news feeds for product announcements and medical news, journal article lookup, as well as a mobile guide to ICD-9 and Current Procedural Terminology ("CPT") diagnosis codes.[2]
The company markets both free and multiple paid versions.[3] It receives additional revenue from pharmaceutical companies.[4]
The company was founded in 1998.[5] Early versions of epocrates ran on Palm devices[6] and desktop computers. The user base was 525,000 users worldwide (including 200,000 doctors in the United States) in 2006.[4] As of 2006 the company was also active in the United Kingdom, Canada, Germany and Spain.[4] Among its competitors is WebMD.[4] By 2010 the company said it had 1 million users worldwide, including 40% of the physicians in the United States,[7] and that it employed more than 250 people.[5]
Epocrates Management Team
Peter C. Brandt, Interim president and Chief Executive Officer Patrick Spangler, Chief Financial Officer Joe Kleine, Executive Vice President and Chief Commercial Officer Dave Burlington, Chief Operations Officer Thomas Giannulli, M.S., M.D., Chief Medical Information Officer Matthew Kaminer, General Counsel and Secretary Kathleen Donovan, Chief Human Resources Officer [5]
Peter C. Brandt Interim President and Chief Executive Officer
Peter brings more than 30 years of healthcare experience to Epocrates. He joined the Epocrates board of directors in February 2011. He recently held the position of President and CEO of Noven Pharmaceuticals, Inc. He currently serves on the board of directors for Rexahn Pharmaceuticals, Auxilium Pharmaceuticals and the Population Council. Peter holds an M.B.A in finance and accounting at Columbia University and a B.A. in economics and marketing from the University of Connecticut. [5]
Patrick Spangler Chief Financial Officer
Patrick joins Epocrates with more than 30 years of experience in operations, financial management, public offerings, and mergers and acquisitions for start-ups and Fortune 500 companies. Prior to Epocrates, Patrick served as an operating partner at Three Fields Capital, an investment management company. In the course of his career, Patrick has served as CFO for three multi-million dollar global companies. As CFO for privately-held HighJump Software, he designed and executed two global restructurings. During his tenure at ev3, he led the company through 50% organic growth and two public offerings. He also served as CFO at device manufacturer Empi and held senior management positions at Medtronic and Tonka Corporation.
Spangler holds a B.S. in accounting and an M.B.T. from the University of Minnesota, and an M.B.A. from the University of Chicago. [5]
Joe Kleine Executive Vice President and Chief Commercial Officer
Joe Kleine brings more than 20 years of experience in healthcare sales, strategy and leadership to Epocrates. Joe established and has continued to build the Epocrates commercial business over the past decade by introducing interactive, digital services to the healthcare industry, including all top 20 pharmaceutical companies.
Prior to joining Epocrates, Joe led strategic planning and business development for a top 10 medical advertising agency within the Omnicom network. He began his career with Eli Lilly & Company where he held several sales and marketing leadership positions. Joe earned a bachelor's degree at Dickinson College, and an M.B.A. from Duke University's Fuqua School of Business. [5]
Dave Burlington Chief Operations Officer
Dave brings nearly 25 years of experience in product development and management, strategy, service, delivery and launch of on-demand/SaaS architectures to Epocrates. Most recently Dave served as group vice president of applications and technology at Taleo Corporation. During his five-year tenure, he led efforts for three major acquisitions and helped grow Taleo from $70 million to $240 million in revenues.
Previously, Dave served as senior vice president of product development for Comergent Technologies, Inc., which was acquired by Sterling Commerce in 2006. Dave has also held senior leadership positions at PeopleSoft, Inc., Gap, Inc. and Andersen Consulting.
Dave earned a Bachelor of Science in electrical engineering from Santa Clara University. [5]
Thomas Giannulli, M.S., M.D. Chief Medical Information Officer
Dr. Giannulli brings to the Epocrates team over 15 years of expertise in healthcare informatics, mobile development and medical training. Prior to joining Epocrates, Dr. Giannulli was the Chief Executive Officer of Caretools, which developed the first iPhone-based electronic medical record. Previously, he served as Chief Executive Officer of Physix, Inc. where led development of the first handheld medical application for physicians, and Vice President of advanced research at Data Critical Corp where he managed wireless and internet-based solutions.
Dr. Giannulli holds a M.S. in biomedical engineering from the University of Utah. He earned a M.D. from the University of Texas at Houston where he completed his residency and is board-certified in Internal Medicine. [5]
Matthew Kaminer General Counsel and Secretary
Matthew joins Epocrates from MediMedia, Inc. where he served as General Counsel. Previously, Matthew served as Assistant General Counsel and Chief Privacy Officer at WebMD Health Corp. During his six year tenure at WebMD, he managed legal matters related to corporate, intellectual property, technology, privacy, regulatory and employment.
Matthew earned his J.D. from George Washington University Law School and B.S. in computer science from Pennsylvania State University. [5]
Kathleen Donovan Chief Human Resources Officer
Kathy joins Epocrates with more than 20 years experience in Human Resources and Labor and Employment law matters in the pharmaceutical industry. Most recently Kathy served as Sr. Vice President of Human Resources for Pfizer's U.S. Pharmaceutical business, where as a member of the Executive Leadership Team and the head of Human Resources, Kathy was responsible for setting and implementing the Human Resources strategy for the business. Additionally, Kathy was a key member of the Company's HR Leadership Team in setting Human Resources strategy for Pfizer's Global business. Prior to this position Kathy served as Assistant General Counsel for Employment and Benefit matters for Pfizer.
Kathy holds a B.A. from University of Illinois and a J.D. from Chicago-Kent college of Law. [5]
History
Epocrates' early funders included Bay City Capital, Draper Fisher Jurvetson, Interwest Partners, Sprout Group and Three Arch Partners.[4]
Public offering
After a 2008 public offering was put on hold,[8] Epocrates filed a registration statement again in July 2010 to raise $75 million.[7]
References
- ^ Candice Novak (May 14, 2008). "Healthcare IT company is going public after partnering with Apple". US News.
- ^ "Epocrates, Inc". Hoovers.
- ^ "Last Day to Get Epocrates Essentials for Free for Medical Students". Medgadget. August 31, 2010.
- ^ a b c d e Chris Rauber (August 18, 2006). "Epocrates putting drug info into docs' pockets". San Francisco Business Times.
- ^ a b c d e f g h i j "Media Room". Epocrates. Cite error: The named reference "mr" was defined multiple times with different content (see the help page).
- ^ Milt Freudenheim (January 8, 2001). "Digital Doctoring; The Race Is On to Put a Computer Into Every Physician's Hand". New York Times.
- ^ a b "Epocrates files to raise up to $75M in IPO". San Francisco Business Times. July 16, 2010.
- ^ Chris Rauber (September 19, 2008). "Epocrates' IPO on hold". San Francisco Business Times.
External links
- epocrates.com - official site