3rd Jul 2009 07:00
3 July 2009 United Business Media acquires Iasist for €6.4m CMPMedica expands its presence in the Spanish healthcare informatics market
United Business Media Limited today announces it has acquired Iasist on behalf of its healthcare division CMPMedica (www.cmpmedica.com) from Inflexion Private Equity and members of the business's management team for a total cash consideration of €6.4m.
Iasist (www.iasist.com) is a provider of benchmarking data and software to regional health authorities, hospitals and other health service providers, principally in Spain and Portugal. Iasist collects data from over 180 hospitals and primary healthcare providers - serving more than six million people - to form a proprietary database of clinical outcomes on which its products and services are based. Iasist provides most of its services on the basis of one to three year subscription contracts. Historical renewal rates are in excess of 85%. Hospitals and health authorities use Iasist's services to monitor clinical performance and develop improvement plans. Iasist also provides consultancy services to help hospitals interpret and act on its information and analysis.
Iasist's services will expand CMPMedica's range of healthcare data solutions. In the medium term, we expect that the combined product range will allow CMPMedica to accelerate its growth in the hospital sector.
Iasist employs 34 staff, principally in Barcelona. Iasist's management team, including its founder Merc¨ Casas, will remain with the business following its acquisition and integration into CMPMedica. In 2008 Iasist generated revenues of €4.5m. The acquisition is anticipated to exceed UBM's 8% post-tax cost of capital acquisition criterion in its first full year of ownership.
Henry Elkington, Chief Executive Officer of CMPMedica said:
"The acquisition of Iasist will significantly expand CMPMedica's range ofhealthcare data services, both in Iberia and beyond. Iasist is the marketleader in Iberia and is highly regarded by its customers. We are delighted thatMerc¨ and her team are coming on board and look forward to working with them toenhance and expand the range of benchmark services we offer. This acquisitiondemonstrates UBM's continuing commitment to developing and growing its businessin healthcare data." - 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/Investors Email [email protected] Direct telephone +44 20 7921 5095 Nigel Wilson +44 20 7921 5019 Andrew Crow +44 20 7921 5940 Notes to Editors
1. About United Business Media
UBM focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com
2. About CMPMedica
CMPMedica is one of the world's leading providers of drug information to healthcare professionals, with trusted brands such as Vidal (www.vidal.fr), MIMS (www.mims.com), Glebe Liste Pharmindex (www.gelbe-liste.de) and Vademecum (www.vademecum.es). CMPMedica provides reference data, decision support solutions, news and education to communities of general practitioners, specialist doctors, pharmacists, nurses and patients across 26 countries. We produce a range of professional media including data-rich directories, electronic and online products, journals and face-to-face meetings. The established and trusted reputation of our brands means that many of them are embedded in the daily workflow of the healthcare communities they serve.
For more information, go to www.cmpmedica.com.
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