Advanstar to acquire 15 health care magazines

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Boston--Advanstar Communications Inc. announced Monday that it has entered into a definitive agreement with a subsidiary of The Thomson Corp. to acquire its portfolio of 15 health care magazines, one veterinary trade show and conference, and a special-projects group. The portfolio comprises three groups: Medical Economics Communications Group, Dental Products Report Group and Veterinary Healthcare Communications Group.

“The addition of these highly regarded publications, which complement our existing health care portfolio, will expand our reach into many key primary and specialty markets. Upon completion of the acquisition, Advanstar will be one of the leading publishers in the U.S. health care industry,” said Robert Krakoff, Advanstar’s chairman-CEO, in a statement.

Total revenue for the portfolio was $87.7 million in 2002. Advanstar, supported by its private equity backer, DLJ Merchant Banking Partners III LP, said it will pay the $135 million purchase price in cash. The deal is expected to close in the fall.

--Sean Callahan

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