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Tech Industry buys fellow health-advice site's assets

The online health information site acquires the assets of troubled for 1.58 million shares of common stock and $150,000 in cash.

After acquiring the assets of troubled health care advice site on Thursday, the recently resuscitated might be reminded of the time-honored phrase, "Physician heal thyself."

Drkoop bought the assets of the advice site for 1.58 million shares of common stock and $150,000 in cash. Drkoop, based in Austin, Texas, said the acquisition boosts its audience to 2 million and extends its reach among young adults.

DrDrew was founded by Dr. Drew Pinsky, who gained notoriety as one of the hosts of the syndicated radio show "Loveline." Pinsky specializes in offering health advice to teens and young adults. The Web site offers much the same kind of content.

Pinsky will join Drkoop's medical advisory board, the company said in a statement.

Drkoop buying the assets of another Web site may come as a surprise to watchers of Internet health sites. It was not long ago that the health site appeared to be on its deathbed.

The company, started by former U.S. Surgeon General Dr. C. Everett Koop, received a $20 million cash infusion in August. Since then, it has hired a new chief executive and laid off a third of its staff.