Advanstar Purchases Healthcare Magazines from Thomson

Posted on September 19, 2003

Advanstar Communications has entered into an agreement with a subsidiary of The Thomson Corporation to acquire its portfolio of healthcare industry-specific magazines and related custom project services. The purchase price of US$135 million will be paid in cash.

The portfolio of publications and custom project services are targeted at primary and specialty healthcare segments as well as nursing, dental and veterinary professionals. Specifically, the portfolio is composed of three groups: Medical Economics Communications Group headquartered in Montvale, NJ; Dental Products Report Group in Northfield, IL; and Veterinary Healthcare Communications Group in Lenexa, KS. In total, the portfolio includes 15 magazines, one veterinary tradeshow and conference, and a special projects group, which includes custom projects, symposia, and continuing medical education (CME) programs.

Bob Krakoff, Chairman and CEO of Advanstar Communications, said, "We look forward to welcoming the Thomson healthcare publications to our Company. The addition of these highly-regarded publications, which complement our existing healthcare portfolio, will expand our reach into many key primary and specialty markets. Upon completion of the acquisition, Advanstar will be one of the leading publishers in the US healthcare industry. Also, we are very pleased with our equity sponsor's (DLJMB) continued support for Advanstar represented by the additional equity investment that it will make as part of the Thomson acquisition and which also will delever the Company."

Advanstar Healthcare Communications, a division of Advanstar Communications, is a leader in the field of medical publishing and physician education. Advanstar Healthcare Communications publishes DVM Newsmagazine, Cosmetic Surgery Times, Dermatology Times, Formulary, Geriatrics, Healthcare Traveler, Managed Healthcare Executive, Modern Health for Women, Ophthalmology Times, Ophthalmology Times China, Ophthalmology Times America Latina, and Urology Times.