UBM to acquire drug info service

United Business Media is to acquire Medimedia’s drug information businesses in Europe and Asia for £188m.

The deal includes trade magazines aimed at doctors, pharmacists and other healthcare professionals which are expected to fit in with UBM’s healthcare titles. It will also result in UBM’s health care business accounting for almost a quarter of its revenue.

Clive Hollick, chief executive of UBM, said: “Medimedia’s market leading products generate a high level of recurring revenues and have good growth potential.”

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Stephen Warshaw, international CEO of MediMedia will be appointed CEO of the acquired businesses.

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