Springer Announces Deal to Purchase Marketing and Publishing Services from Wolters Kluwer
In a move to bolster its already formidable science, technology and medical (STM) publishing operations, Springer Science + Business Media has agreed to purchase from Netherlands-based Wolters Kluwer its pharmaceuticals-focused marketing and publishing services (MPS) unit. The deal is pending regulatory approval.
MPS is a major provider of strategic marketing, publishing and business intelligence products and services to the pharmaceutical industry, as well as to medical libraries and academic and research institutions. Significant MPS brands include Adis, with its portfolio of 24 pharmacology- and pharmacotherapy-focused journals and newsletters, and InScience Communications, a science and medical communications agency.
With main offices Auckland, New Zealand; Chester, U.K.; Milan, Italy and, in the U.S., Yardley, Pa., the company employs approximately 450. According to a statement by Wolters Kluwer, the sale represents 35 percent of the company's pharmaceutical-related assets.
"This acquisition will significantly strengthen our position in international corporate and healthcare markets and will also allow us to expand Springer's STM operations, not only in the Americas and Asia-Pacific regions, but also in parts of Europe where we do not yet have offices," said Derk Haank, CEO of Springer Science+Business Media. "MPS's high-quality content and services for corporate customers and academics form a perfect complement to our existing portfolio.”
According to Nancy McKinstry, CEO and Chairman of the Executive Board of Wolters Kluwer, "The sale of our pharma-related business is part of our strategy to focus on our core health markets and accelerate growth by providing innovative solutions to clinicians globally."
According to a statement by Wolters Kluwer, "proceeds from this divestment are expected to be used for general corporate purposes including the reduction of debt levels in line with the company's stated objectives and investments in the business."