HMP Communications' recent acquisition of Consultant and Consultant for Pediatricians significantly expands the b-to-b publisher's footprint in the healthcare market.
HMP acquired the monthly publications for an undisclosed price from London-based United Business Media. Media investment bank Berkery Noyes advised UBM on the sale.
The deal, announced in April, is another example of the strategy of niche publishers to develop media portfolios that are both deep and wide within a given market.
Consultant (250,000 circ.) caters to primary care physicians, while Consultant for Pediatricians (64,000 circ.) is delivered to office- and hospital-based pediatricians, pediatric nurses and pediatric physician assistants.
Jeff Hennessy, president-CEO of HMP Communications, said the company intends to cross-market the acquired properties with titles from its Life Sciences division, which includes Annals of Long Term Care, Clinical Geriatrics and First Report Managed Care.
“All the products [in the Life Sciences portfolio] have the potential to offer Consultant advertisers increased frequency discounts, along with combination buys that make all these brands an effective and cost-efficient way to reach a number of desirable markets,” he said.
HMP distributes its media products through four divisions: Cardiovascular, Dermatology, Life Sciences and Wound Care/Podiatry.
In conjunction with the acquisition of Consultant and Consultants for Pediatricians, HMP rolled out a new website (www.consultant-360.com) to support the brands. The website features webcasts, video and links to live events, and will soon add Consultant360 TV, Hennessy said.
Peter Bancroft, a spokesman for UBM, said the divestiture of Consultant and Consultants for Pediatricians is a “recognition of how we believe the primary care market is evolving, which is toward the digital and online space.”
UBM continues to shed many of its print assets and acquire media properties that offer live events and digital subscriptions.
A few weeks after the sale to HMP, UBM acquired AMB Exhibitions Sdn Bhd and AMB Events Sdn Bhd in Malaysia, the Philippines and Vietnam. Financial terms were not disclosed.
AMB produces five events in Malaysia and Vietnam targeting the water, livestock, energy and mechanical/electrical industries. The company has four additional events planned for this year—three in the Philippines and one in Vietnam. UBM has also acquired several events in Brazil, China and other emerging markets around the world.
In one of the largest b-to-b media deals in recent years, UBM in September paid $287 million for Canon Communications, which specializes in trade shows in the advanced manufacturing sector.
Since 2005, UBM has made 87 acquisitions, totaling $1.4 billion. That total includes initial cash payments, earn-out payments already made and the earn-out payments UBM expects to make in the future.
The deals have dramatically decreased UBM's exposure to print advertising. In 2005, the company generated about two-thirds of its revenue from print. Now, that total is roughly 15%.