UBM said the properties would fit well with its current health care products. The proposed purchase price is $344.7 million in cash.
In 2003 these properties generated $129.1 million in revenue and $29.8 million in earnings before interest, taxes, depreciation and amortization.
âThis proposed acquisition is an excellent fit with our strategy of building our core franchises and extending our geographical coverage in key markets on attractive financial terms,â said Clive Hollick, UBMâs CEO.
UBM said it wanted Stephen Warshaw, international CEO of MediMedia, to stay on as CEO of the acquired businesses.