LONDON, Nov. 3 /PRNewswire-FirstCall/ -- United Business Media today
announced the acquisition of The Oncology Group and Cliggott Publishing from
SCP Communications Inc. Titles acquired include "Oncology" and "Oncology News
International", leading US publications in the category and "Consultant", a
major player in the large primary care market.
UBM is paying the $37.5 million in cash, eight times forecast 2004
operating profit. The acquisition is expected to achieve UBM's investment
criteria in its first full year. The Oncology Group and Cliggott Publishing
will be integrated into CMP Healthcare Media, the Healthcare division of CMP
Media in the US. The oncology publications provide an ideal platform for the
further expansion of CMP Healthcare's fast growing continuing medical
education business.
Clive Hollick, Chief Executive of United Business Media, said:
"This acquisition is financially and strategically attractive. It gives
CMP Healthcare Media a strong platform in the fast growing oncology
publications and education market."
Gary Marshall, Chief Executive of CMP Media, said:
"These leading titles are an excellent fit with the current portfolio and
give CMP Healthcare Media, whose revenues grew by 14 per cent in the first
half of 2003, a platform to develop new multimedia professional education
products for the oncology market - products which can be promoted by CMP
Healthcare publications. These titles bring rich databases - the oncology
website alone has over 45,000 registered specialists."
This acquisition adds a strong position in oncology to CMP's market
leading positions in psychiatry, radiology, geriatrics and orthopaedics,
making CMP one of the top US full service healthcare communications companies,
serving professionals across 15+ therapeutic categories.
Senior executives include Jonathan L. Bigelow, President of Cliggott
Publishing and founding editor of many Cliggott journals. His other
professional roles include the position of Board Director and President-Elect
of the Association of Medical Publications. The President of the Oncology
Group is Melissa Warner, a leader in the field of cancer communications and a
Board Director on the Healthcare Marketing and Communications Council.
Notes to Editors:
CMP Heathcare Media is part of UBM's CMP Media division.
CMP Healthcare Media delivers information and education to healthcare
professionals via a diverse range of marketing and communication vehicles
including publications, websites, tradeshows, meetings and conferences. CMP
Healthcare Media's Publishing Group delivers unbiased objective coverage,
independent of any professional association or commercial influence. Its
publications lead the industry in requestor rates, demonstrating readership
loyalty from subscribers in the fields of psychiatry, geriatric care, medical
imaging and orthopedics. CME, Inc. is a division of CMP Healthcare Media.
CME, Inc. is an independent provider of continuing medical education for
physicians and other healthcare professionals. With 25 years of expertise,
CME, Inc. has unmatched editorial, research capabilities, faculty
relationships and planning experience ensuring effective, fair balanced
educational programmes delivered via a range of venues such as annual
congresses, weekend conferences, internet programmes, home-study programmes
and customized publications and meeting series. MEDReach is also a division
of CMP Healthcare Media. It is an integrated marketing and communications
company serving the pharmaceutical industry. MEDReach delivers new product
information to key markets using the full range of CMP Healthcare's multimedia
resources.
SCP Communications, Inc. is a venture capital supported healthcare
publishing group. In 1998 it acquired PRR, Inc., the previous name for what
is now known as The Oncology Group. The same year it also acquired Cliggott
Publishing, Co.
The Oncology Group and Cliggott Publishing. The Oncology Group is US
leader in the field of oncology publishing for specialists, researchers,
primary care physicians and patients. Cliggott Publishing plays a leading
role in educating primary care practitioners and medical surgical specialists
and publishes several of the best read journals in the US.
United Business Media plc (http://www.unitedbusinessmedia.com) is a
leading provider of business information services to the technology,
healthcare, media, automotive and financial services industries. UBM offers
services in market research, consultancy, news distribution, publishing and
events to customers across the globe. Its brands include NOP World, one of
the largest market research groups globally; PR Newswire, the world's leading
corporate news distribution service and CMP, the B2B media and exhibition
group operating in high-tech, healthcare, property, entertainment jewellery
& fashion in the US, UK, Asia and Europe.
Schedule of Products
The Oncology Group and Cliggott Publishing
Major publications:
Oncology, Oncology News International, Myths and Facts Series (Breast
Cancer, Colon Cancer, Lung Cancer, Ovarian Cancer), Consultant, Infections in
Medicine, The Journal of Respiratory Diseases, The Journal of Respiratory
Diseases for Pediatricians, The Journal of Musculoskeletal Medicine, Drug
Benefit Trends, The Journal of Critical Illness, The AIDS Reader
Major websites:
http://www.cancernetwork.com
http://www.ConsultantLive.com
CMP Healthcare Media
Major publications:
Psychiatric Times, Geriatric Times, Diagnostic Imaging, Diagnostic Imaging
Europe, Biomechanics
Major websites:
http://www.CMEInc.com
http://www.MEDInfoSource.com
http://www.MentalHealthInfoSource.com
http://www.NeuroInfoSource.com
http://www.PsychiatricTimes.com
http://www.GeriatricTimes.com
http://www.MEDReach.com
This press release includes statements which are not historical facts and
are considered "forward-looking" within the meaning of Section 27 of the
Securities Act of 1933, as amended. These forward-looking statements reflect
UBM's current views about future events, business and growth strategy and
financial performance. These forward-looking statements are identified by
their use of terms and phrases such as "believe," "expect," "plan,"
"anticipate," "on target" and similar expressions identifying forward-looking
statements. Investors should not rely on forward-looking statements because
they are subject to a variety of risks, uncertainties and other factors that
could cause actual results to differ materially from UBM's expectations. UBM
expressly does not undertake any duty to update forward-looking statements.
Management does not attempt to update forecasts unless conditions materially
change.
SOURCE United Business Media
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Related links:
http://www.unitedbusinessmedia.com
CONTACT:
For United Business Media enquiries: Michael
Waring, +44-20-7921-5031, or Nick Molden, +44-20-7921-5097 both
of United Business Media; or Colin Browne, The Maitland
Consultancy, +44-20-7379-5151; or for CMP Media and CMP
Healthcare enquiries Alix Raine of CMP Media, +1-516-562-7827, or
Vicki Masseriare, +1-415-947-6486, or Sally Shankland, +
1-212-6003072 both of CMP Healthcare Media
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