Firm Buying 49% Stake in Physiciansite.com Venture

HealthStar Corp., a health care management company with 121,000 physicians, agreed to buy a 49% stake in Newport Beach-based Physiciansite.com for $42 million in stock and cash to add online services.

Physiciansite.com is an Internet site that will allow doctors to process insurance claims, order supplies and prescriptions, and schedule appointments online.

Scottsdale, Ariz.-based HealthStar will pay 4 million shares for the stake, which is owned by an unnamed investment group. It will also invest $7.2 million in cash.

HealthStar said Physiciansite.com will provide a single location for doctors, hospitals, insurers and employers to communicate and make transactions. HealthStar’s Preferred Provider Organization network spans 39 states.

Physiciansite.com will begin offering services in September.