4th Jan 2007 07:00
United Business Media buys MediReach Healthcare Communications Strengthens position in Chinese professional medical and pharmaceutical consultancy services market
United Business Media plc today announces that its healthcare division CMPMedica has acquired MediReach Healthcare Communication (MHC) for an initial cash consideration of $1.1 million, with a further deferred consideration of up to $2.75M contingent on future performance.
MHC is headquartered in Shanghai and provides medical and pharmaceutical marketing consultancy services to multinational pharmaceutical companies across China. This is one of the fastest growing sectors of the Chinese healthcare market and the acquisition will strengthen CMPMedica's position in the Chinese market as a leading provider of medical and pharmaceutical marketing consultancy services.
The acquisition is anticipated to exceed UBM's 8% post-tax cost of capital criterion in 2007.
Henry Elkington, Chief Executive Officer of CMPMedica said:
"We are delighted to be able to strengthen our capabilities in China by combining MediReach with our existing local businesses. We are committed to developing innovative solutions for the pharmaceutical industry in the fast-evolving Chinese market."
- Ends -ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts Catherine Southgate Head of Investor Relations Email [email protected] Direct telephone +44 20 7921 5031 Notes to Editors
1. About United Business Media plc
United Business Media is one of the world's leading global business information companies. UBM brings together the world's buyers and sellers, helping their markets work effectively and efficiently through PR Newswire's news distribution network, Commonweath's trade and transportation business intelligence, and through CMP's portfolio of events, print and on-line publications. For more information, go to www.unitedbusinessmedia.com
1.1 About PR Newswire
PR Newswire is the world's leading corporate news distribution service. Headquartered in New York, PR Newswire provides news distribution, targeting, measurement and broadcast services on behalf of tens of thousands of customers including many of the world's top companies and agencies. PR Newswire has offices in 11 countries and routinely sends its customers' news to outlets in 135 countries and in more than 40 languages. PR Newswire's services include ProfNet Experts, eWatch, MEDIAtlas, Search Engine Optimization , MediaRoom, MediaSense and MultiVu. For more information, go to www.prnewswire.com
1.2 About CMP & Commonwealth
Commonwealth and CMP's portfolio of more than 200 events, 200 newspapers, magazines and directories and 200 websites brings together buyers and sellers from a range of global sectors including technology, healthcare, trade and transportation, the built environment, lifestyle, fashion and ingredients. The businesses operate globally through the following divisions:
1.2.1. CMPMedica: CMPMedica provides information and education to healthcare professionals and patients around the world. It has a unique portfolio of professional media products including newspapers, magazines, drug directories, electronic databases, websites and events. For more information, go to www.cmpmedica.com
1.2.2. CMP Asia: Headquartered in Hong Kong with offices throughout the region, CMP Asia is a leader in exhibitions and online and print business information publications for Asian markets. Working with partners from around the world, CMP Asia stages a range of leading events which includes the largest international jewellery, leather and fashion, beauty and furniture trade shows in Asia, as well as the definitive health show for the Japan market. For more information, go to www.cmpasia.com
1.2.3. CMP Information: Operating internationally, CMPi provides professional media solutions to around 20 industry sectors. Its products include exhibitions, conferences, awards events, magazines, data and information products and websites, targeted at business professionals across a range of markets such as the built environment, travel, licensed trade, agriculture, security and ingredients. For more information, go to www.cmpi.biz
1.2.4. CMP Technology: CMP Technology is a marketing solutions company serving builders, sellers and buyers of technology worldwide. Through its portfolio of market-leading event, print and online information brands, CMP Technology delivers access, insight and actionable programs designed to connect technology sellers and buyers. For more information, go to www.cmp.com
1.2.5. Commonwealth Business Media: Commonwealth Business Media is the leading information provider to the global trade and transportation market with comprehensive proprietary data, news and analytical content. Commonwealth is headquartered in East Windsor, New Jersey with offices around the US and internationally. For more information, go to www.cbizmedia.com
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