United Business Media has sold its French medical newspaper and magazine business to a management buyout team led by Gérard Kouchner, the business’s Chief Executive since 2005. UBM has sold the business on behalf of its UBM Medica division and will retain a 37.1% equity stake. The cash consideration was €4.4m and UBM has extended vendor finance of €6m to the management buyout team, valuing the transaction at €13m on an enterprise basis.
The business publishes weekly, bi-weekly, monthly and other subscription and controlled circulation titles for the French healthcare professional community. It also has a number of smaller print media and customised marketing products for the French medical community. In 2010 the business generated revenues of approximately €40m and employed around 170 staff at its Paris premises.
UK, London & France, Paris
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