Division Will Focus on High Growth Clinical Markets
Wolters Kluwer, a market-leading global information services company focused on professionals, today announced that it has signed a definitive agreement to sell its pharma-related Marketing & Publishing Services business to Springer. The announcement follows an earlier announcement by Wolters Kluwer in July that it planned to divest its pharma-related assets. The transaction is subject to customary closing conditions, including regulatory approvals.
“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,” said Nancy McKinstry, CEO and Chairman of the Executive Board of Wolters Kluwer.
The agreement encompasses the Marketing & Publishing Services business unit, part of the Wolters Kluwer Health & Pharma Solutions division. Marketing & Publishing Services is a leading global 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. The sale represents approximately 35% of the company’s pharma-related assets in terms of revenue, with Adis and inScience Communications as the leading brands, and encompasses approximately 450 employees globally.
“This is an exciting time for our business in terms of opportunities,” added Bob Becker, CEO and President of Wolters Kluwer Health & Pharma Solutions. “We believe that Springer is the best fit for housing the Marketing & Publishing Services business going forward and I want to express our great appreciation to the Marketing & Publishing Services employees and wish them all the best for the future.”
The 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.
About Wolters Kluwer
Wolters Kluwer is a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer’s leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.
Wolters Kluwer had 2010 annual revenues of €3.6 billion, employs approximately 19,000 people worldwide, and maintains operations across Europe, North America, Asia Pacific, and Latin America, serving customers globally. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.