Wolters Kluwer sells pharma business to Springer

Published: 21 Nov 2011

Wolters Kluwer has signed a definitive agreement to sell its pharma-related marketing and publishing services business to Springer. The news follows an earlier announcement by Wolters Kluwer in July that it plans 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 and publishing services business unit, part of the Wolters Kluwer Health & Pharma Solutions division. Marketing and 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 per cent 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 and publishing services business going forward."

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.

Published: 21 Nov 2011

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