Digitell, an event-tech pioneer that has supplied virtual- and hybrid-event technology for about 15 years — the company was demonstrating hybrid-event models back in 2006 — has been acquired by BroadcastMed, which produces and distributes clinical education content for health-care professionals. The deal, which was just announced this week, actually was finalized on Dec. 23.
With the acquisition, BroadcastMed will no longer be strictly focused on health-care content; rather, the company intends to "continue nurturing and growing Digitell's legacy non-health-care clients," said BroadcastMed CEO and cofounder Ross Joel. "While we strategically are focused on growing our health-care business as our long-term focus, there is a great deal of continued value we can bring to clients across verticals."
How current Digitell clients are served shouldn't change, Joel emphasized. "We are absolutely committed to delivering the best experience possible for all our customers," he said. "In fact, we would not have been as enthusiastic about this acquisition without the entire portfolio of clients Digitell brings to the deal."
The acquisition broadens BroadcastMed's database across verticals, but also in the health-care field, to 1.7 million U.S. allied health-care professionals. Plus, BraodcastMed will now be able to offer options in event curation and exhibition to its client base.
BroadcastMed also intends to maintain the Digitell brand. "In fact, it will be the brand name of our platform technology moving forward," Joel explained. "Our combined technology platform will inherit the name Digitell Live and Digitell DX, which together will comprise the Digitell Platform powered by BroadcastMed. We think there is immense legacy value to the Digitell brand and a comfort level and familiarity that long-time clients will embrace."
424 Capital, BroadcastMed's growth-stage investor, backed the deal. "This new partnership advances BroadcastMed’s mission of health-care intelligence, furthering the goal to engage, educate and inspire today’s health-care workforce,” noted Brennan Mulcahey, a partner at the investment firm.
The acquisition, which serves as further evidence of the widespread, growing interest in event technology across various sectors, likewise provides BroadcastMed a foothold into the general event-tech marketplace. "Our unified platform now provides our clients unrivaled virtual-event tools, reporting and AI-driven audience insights," Joel pointed out, "which makes our combined organization a heavyweight provider of virtual meetings and events."