What happens when a CPG brand master enters the physician services business? That’s yet to be seen but it does set the marketing imagination in motion when Proctor & Gamble announces that it will assume full ownership of MDVIP, a concierge network of 350 physicians in 28 states and the District of Columbia.
A December 18, 2009 Modern Healthcare article reports that this move will increase P&G’s initial investment to 100% from the 48% made in January 2007. A release issued when P&G made the original investment stated that MDVIP “works with the nation’s finest physicians to give them the tools they need to practice preventive and personalized healthcare for patients who consider their health a priority. The MDVIP model is based on three pillars: exceptional doctors, exceptional care, and exceptional results.”
The purchase, is “consistent with P&G’s mission to improve the lives of consumers in the important areas of health and wellness.” (Advertising Age) P&G’s Web site indicates it sold some $80.3 billion worth of products in 2009 with “health and well-being” items (“personal health care” included) accounting for $16.7 billion.
The deal was cleared by the FTC on December 11.