3rd Jun 2015 06:35
LONDON (Alliance News) - UBM PLC said Wednesday it has acquired Latin American healthcare trade show Hospitalar from SPFC Group for an undisclosed sum.
UBM said the return on investment from the buy is expected to exceed its weighted average cost of capital in the first full year of ownership.
Hospitalar is a trade show hosted in Brazil which features 1,250 Brazilian and international exhibitors, and attracting around 95,000 attendees. It generated revenue of around BRL32 million at its 2015 show in May.
Hospitalar's staff will move to UBM Brazil and the founders of the show will remain in a non-executive capacity for at least two years. The event will be included in UBM's portfolio of Brazilian shows.
"We are delighted to have acquired Hospitalar. It is a 'must-attend' show with an increasingly international customer base and will further strengthen our position in Brazil. It also fits very neatly with the wider UBM portfolio and we are excited about the opportunity to leverage UBM's strong position in the Medical Device and Manufacturing sector," said Chief Executive Officer Tim Cobbold in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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