Thursday, November 10, 2005
New York, November 10, 2005 -- Berkery, Noyes & Co., LLC announced today that it represented Current Medicine Group in its sale to Springer Science+Business Media.
Current Medicine Group (CMG), a leading publisher for the healthcare community based in the United Kingdom and the United States and consists of four different operating units:
• Current Medicine Group Ltd (London), which publishes books, pamphlets and manuals for primary care professionals, hospitals and physicians;
• Science Press Internet Services Limited (London), which creates and manages websites and produces educational content and news via its portal MedWire;
• Current Medicine LLC (Philadelphia), which publishes atlases and produces an image library (Images.MD);
• Current Science Inc (Philadelphia), which publishes medical review journals for the pharmaceutical sector.
The approximately 100 employees of the units will join Springer. The acquisition links complementary businesses, strengthens Springer’s existing position in the United Kingdom, and will provide Springer with a strong position in the US pharmaceutical publishing market, which is the world’s largest and fastest-growing.
Terms of the transaction were not disclosed.
About Springer Science+Business Media
Springer Science+Business Media is the second largest publisher of scientific, technical and medical (STM) information in the world, and was formed out of the integration of the former BertelsmannSpringer and Kluwer Academic Publishers. Springer comprises some 5,000 employees working in 70 businesses and publishing units in 19 countries all over the world.
About Berkery, Noyes & Co., LLC
Berkery, Noyes specializes in investment banking for the information, publishing, and communications industries. Among the 15 transactions completed by Berkery, Noyes this year are the acquisition by Highline Media, LLC of Adams Business Media Financial magazines, acquisition by The Wicks Group of DesignWrite, Inc., the acquisition by Veronis Suhler Stevenson of Facts On File, the acquisition by ProQuest Company of Voyager Expanded Learning, the acquisition by Wolters Kluwer Health of Boucher Communications, Inc., the acquisition of Delta Education LLC by School Specialty, Inc., the sale of the assets of Medquest Communications to VendomeGroup LLC and Bankers Systems acquisition of PCi.Berkery, Noyes’ clients include private companies seeking a buyer, and most of the major international information companies and private equity firms who use the firm's expertise in locating, analyzing and negotiating with acquisition candidates and in managing divestitures. The firm operates with a staff of twenty-six professionals serving the information and publishing industry from offices in New York. For more information, visit www.berkerynoyes.com.
