Healthline Networks has pulled in a boatload of money and has split into two, spinning off subsidiary Talix. The remaining operations have been renamed Healthline Media to reflect its role as a consumer health information business.
Healthline, based in San Francisco, announced Monday that Summit Partners has invested $95 million into Healthline’s core business, Healthline Media. David Kopp, former GM of the media division, has been named CEO of the standalone Healthline Media.
Meantime, Talix, which Healthline launched last year, has been separately capitalized with $14 million from former Healthline Networks shareholders. Healthline Networks CEO Dean Stephens takes the helm of Talix, a software-as-a-service health IT company.
Several of those Healthline investors gained seats on the Talix board as a result of the transaction: Phil Dur of Investor Growth Capital; Richard Harroch of VantagePoint Capital Partners, Kevin Brown of Reed Elsevier Ventures and Mike Barber of General Electric Equity.
“Healthline Networks built two very successful businesses in the media and healthcare technology markets,” Stephens said in a press release. “After launching the Talix business [in 2015], we sought an investor to separately capitalize Healthline Media, enabling David and his team to pursue a more rapid growth rate and achieve their vision of becoming the leading source of high-quality consumer healthcare information on the Internet.
