KnowledgePoint360 changes hands in £86m deal
MACCLESFIELD-based medical information group KnowledgePoint360 is being acquired in a £86.1m cash deal.
The business, which was known as Thomson Medical Education until 2007, is being sold by Boston-based private equity house ABRY Partners to Dublin-based UDG Healthcare.
KnowledgePoint has its headquarters at Tytherington Business Park in Macclesfield, and in New Jersey. It employs around 600 staff across 10 locations.
UDG said KnowledgePoint had earnings before interest and tax of £9.8m on sales of £63m.
Chief executive Liam FitzGerald said: “KnowledgePoint360 is a significant strategic and complementary acquisition for UDG Healthcare, giving us a market leading position in the global healthcare communications sector and significantly enhancing the Ashfield offering to our clients.
“KnowledgePoint360 is a strong and well-established business, with an excellent management team and highly qualified work force that has a style and values similar to our own. Our Ashfield business has had great success with previous acquisitions in the healthcare communications market, including InforMed and Watermeadow. Expansion in healthcare communications and related business areas is a key part of our global growth strategy.”
ABRY renamed the business after it acquired it from Thomson Reuters in 2007. It services include informing healthcare staff of new regulations and guidelines, organising training and administering compliance tests. It also supports the publication of medical research.
