HealthShare Technology
Preparing a company for purchase

Feeley & Driscoll (F&D) assisted HealthShare Technology, a leader in the healthcare decision support market and provider of web-based hospital comparison tools, in its acquisition by WebMD Health Services, a publicly-traded web-based provider of medical and wellness information.

HealthShare came to F&D after being dropped for audit work twice by a Big 4 firm. Founder Rick Siegrist met with Feeley & Driscoll directors and expressed frustration at the high fees and service delays of Big 4 firms. We assured Rick that staff members would be present and ready to begin auditing at HealthShare’s offices within a week. F&D assisted HealthShare with a variety of services, including revenue recognition, bookkeeping clean-up, and tax strategies.

Midway through the audit process, WebMD approached HealthShare Technology and initiated talks about potential acquisition strategies. F&D put its audit work on hold and focused its efforts on preparing HealthShare for the sale. We provided due diligence support, value-driven guidance, and strategic tax consulting. We helped put HealthShare in a position to negotiate the best end deal from a tax perspective, and were instrumental in setting the stage for a three year audit - required for a pending IPO. WebMD acquired HealthShare in March of 2005.

Feeley & Driscoll’s professional audit abilities and fast turnaround time helped HealthShare Technology make the leap from small private company to integral component of a public enterprise. By offering the comprehensive audit work and sale-side deal strategies that HealthShare required, we outperformed our competitors and proved ourselves flexible service providers focused on the long-term success of our clients

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