November 18, 2004

Decision Resources, Inc. Acquires Healthleaders, Inc.

Acquisition Creates the Most Comprehensive Portfolio Of Managed Care Intelligence for the Biopharmaceutical, Managed Care, and Provider Marketplaces

Scott McQuigg Named President of Decision Resources’ Managed Care Division

Decision Resources, Inc., one of the world’s leading research and advisory firms focusing on biopharmaceutical and health care sectors, announced today that it has acquired HealthLeaders, Inc., a leading provider of managed care industry intelligence and news, data and analysis on the business of healthcare. The acquisition of Nashville, Tennessee-based HealthLeaders by Decision Resources will result in the most comprehensive portfolio of managed care information products available on the market today. Scott McQuigg, president and CEO of HealthLeaders, will become the President of Decision Resources’ expanded managed care division, headquartered in Nashville.

Completing the Managed Care Story

Decision Resources’ current managed care division, InterStudy Publications, is a leader in data, directories, and analyses of the rapidly- evolving managed care industry. By combining InterStudy Publications’ data-intensive products with HealthLeaders’ strong regional and local analysis products, organizations such as pharmaceutical companies, managed care organizations, health care providers, and professional services firms, can more accurately view healthcare delivery and business trends that drive their bottom line. “It is exciting to create an entity that will use an expanded suite of products and services to help our clients complete the managed care story and have the most current decision-making tools to compete successfully in the business of healthcare,” said McQuigg. “While InterStudy Publications is known for its overall industry-level information, HealthLeaders’ research products excel at the regional and local market level. This combination, along with our news and information products, offers the most comprehensive view of managed care data and healthcare business solutions available today, which is particularly valuable to biopharmaceutical, payor, and provider companies both strategically and tactically.”

Focused Acquisition Part of Decision Resources’ Growth

The acquisition is part of an aggressive growth strategy by Decision Resources. The company plans to not only combine current products from HealthLeaders and InterStudy, but to also create new ones. “The acquisition of HealthLeaders is an important piece of our overall strategy to continually grow and strengthen Decision Resources’ portfolio of research and analytics,” said Peter Hoenigsberg, CEO of Decision Resources. “Decision Resources recognizes that with the ever-changing landscape of managed care, complete and accurate information and analysis is essential for our customers. This focused acquisition goes beyond bringing complementary products together—we also plan to drill deeper into the market and offer new analytical managed care products and services that our clients value.”

About HealthLeaders, Inc.

HealthLeaders ( is the authoritative source for information solutions, proprietary data, analysis and news on the business of healthcare. HealthLeaders consists of the following entities: HealthLeaders Research, HealthLeaders Healthcare Market Overviews, HealthLeaders Magazine, HealthLeaders Online News, and California HealthFax. By identifying important trends and influences such as health plan demographics, key market events, major healthcare organization alliances, and impending legislation, its publications serve as comprehensive information tools to help executives, professionals, and strategic planners stay abreast of market trends and leading players in the healthcare industry. Major investors in HealthLeaders include Robert A. Frist, Jr. and Village Ventures (

About InterStudy Publications

InterStudy Publications, a division of Decision Resources, Inc., offers data, directories, and analyses of the ever-evolving managed care industry. InterStudy tracks changes and trends in HMO and PPO services, enrollment, and profitability. Pharmaceutical and consulting organizations use InterStudy’s information to customize their approach to targeted managed care organizations, to effectively allocate sales resources, and to develop comprehensive market analysis of the industry to support the strategic decisions of senior management and tactical decisions of field staff. Visit InterStudy Publications at

About Decision Resources

( is a world leader in research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets. For more than two decades, the company has provided in-depth research on the trends, emerging developments, and market opportunities in the biopharmaceutical and managed health care industries. Companies ranging from global pharmaceutical and biotechnology leaders to start-ups turn to Decision Resources for information, analyses, and advice in making critical research, licensing, and marketing decisions. Major investors in Decision Resources include Boston Ventures ( and Castanea Partners ( All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

About Castanea

Castanea is a private equity firm that works in partnership with founders and management teams of innovative passion brands to grow their businesses through a combination of capital investment and operating expertise. We are focused on select consumer verticals including beauty, food and beverage, multi-unit services, and enthusiast lifestyle. We typically invest between $15 to $150 million of equity in minority or majority transactions. Our team of talented operating executives offers critical expertise in key verticals and functional areas, and provides our partner companies with strategic and tactical support. Castanea has more than $1 billion in assets under management and is currently investing from a $735 million fourth fund. For more information about Castanea Partners read our story.

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