By Barrett J. Brunsman, Staff reporter, Cincinnati Business Courier
FEBRUARY 24, 2014 – Procter & Gamble Co. CEO A.G. Lafley has a “watch list” of businesses that the Cincinnati-based company might be interested in selling, and one of them might be its health care subsidiary MDVIP.
The nationwide MDVIP network, which reportedly includes about 700 doctors who provide enhanced access to medical services and consultations in exchange for a membership fee of $1,500 or more, is based in Boca Raton.
Lafley addressed a group of market analysts in that Florida city last week, but he declined to name any of the businesses Procter & Gamble might be willing to part with as he restructures the corporation (NYSE: PG).
The Wall Street Journal reported Monday that MDVIP is for sale, citing as its sources unnamed “people familiar with the situation.” Investment bank Piper Jaffray is advising P&G in the matter, according to the report.
As the Cincinnati Business Courier reported in 2010, the P&G subsidiary gets a portion of the annual fees paid to the doctors in the network, who are not employees of MDVIP.
The doctors affiliated with P&G limit the number of patients they see to 600 or fewer, as opposed to the more than 2,000 patients a typical practice might see, according to the P&G website. That has resulted in MDVIP being described in media reports as a concierge health service.