The media assets acquired include AJMC (American Journal of Managed Care), Cardiology Review, Pharmacy Times, Resident and Staff Physician and Surgical Rounds.
”The sale rationalizes Ascend’s portfolio, and it will be able to devote resources to its existing product lines,” said Roland DeSilva, a managing partner in media investment bank DeSilva+Phillips, which represented Ascend in the transaction. “It’s the perfect acquisition for Intellisphere,” he added. “It builds out its platform, and the magazines acquired are within a company dedicated to the health care market. Each party will benefit from the transaction.”
Last summer Ascend sold its Stagnito food division to BNP Media and in November shuttered three publications: Family Practice Recertification, Internal Medicine World and Physician’s Money Digest.
Ascend’s portfolio still includes SynerMed Communications, which produces continuing medical education programs in several therapeutic areas. Its Allied Healthcare division includes Hearing Review and Medical Imaging.