Reed Elsevier agrees to acquire MediMedia MAP

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London—Reed Elsevier announced Thursday that it has made a binding offer to acquire MediMedia MAP—MediMedia’s European and U.S. Netter professional medical publishing businesses—for €270 million ($340.4 million) in cash.

MediMedia MAP provides medical books and journals and reference information principally for the practitioner market as well as continuing medical education and pharmaceutical industry sponsored communications

The MediMedia MAP businesses generated €101 million in revenue and pro forma EBITDA (earnings before interest, taxes, depreciation and amortization) of €16 million in 2004.

Reed Elsevier said the properties would fit well within its Elsevier Health Sciences division.

—Sean Callahan

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