Hearst Corporation, whose holdings include Cosmopolitan magazine and a stake in ESPN, is continuing its push into healthcare and creating a division called Hearst Health.
The unit consists of five healthcare-information companies, as well as an innovation lab and venture fund with a commitment to invest $75 million in startups in the space and a second round of $75 million planned for the future, according to the company.
Hearst already owns or holds a majority stake in the division’s companies, but their lack of a unified brand until now had created challenges when explaining Hearst’s healthcare initiatives to potential clients and employees, executives said..
“Our mandate is to expand it, so we need to be able to articulate it,” said Gregory Dorn, who oversees Hearst Health as exec VP-Hearst Business Media.
Read the rest at Hearst Rolls Out New Division: Hearst Health | Media – Advertising Age.
