United Business Media today announced that it has completed the acquisition of MediMedia's drug information businesses in continental Europe and Asia, and all the trade press, patient education and pharma marketing solutions businesses in Germany, Benelux and Asia-Pacific. This includes major brands occupying leading positions in 21 markets. The initial agreement to acquire this business was announced on 1 June 2004.
The businesses have a long-established and consistent record of revenue and profit growth. Synergies with UBM’s existing healthcare business and the scope for product expansion in existing and new territories will provide new opportunities to boost performance.The purchase price remains unchanged at €282.5m in cash. In 2003 turnover was €105.8m and EBITDA was €24.4m, with further growth forecast in 2004. The acquisition should be earnings neutral in 2004 and is predicted to increase earnings by more than 5 per cent in 2005. It is expected to achieve UBM’s cost of capital within two years.
The acquisition fits with UBM’s strategy of building its core franchises and extending its geographical coverage in key markets on attractive financial terms. MediMedia’s market leading products generate a high level of recurring revenues and have good growth potential, which will be accelerated in tandem with other UBM healthcare products.
To learn more visit: http://www.unitedbusinessmedia.com
United Business Media Plc is a leading global business media company. We inform markets and bring the world’s buyers and sellers together at events, online, in print, and with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery dealers, from farmers to pharmacists around the world. Our 5,000 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently.
To learn more visit: http://www.unitedbusinessmedia.com
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