Quadrant pulls off a whopper of a deal and acquires Elsevier’s IMNG group for an undisclosed sum making the newly combined company, which will go under the name Frontline Medical Communications, the largest medical publisher by ad volume in the US.
Kudos to Steve Stoneburn on executing and orchestrating a true David buys Goliath deal to catapult to the #1 medical publisher position by ad revenue. Alan Imhoff will continue to run the IMNG division of the new company.
These are exciting, yet painful times in the medical publishing industry. This deal represents another consolidation of assets as overall print ad spends decline. Not all players will survive, and those that do may require consolidations to bring overall costs down and find economies of scale.
Read more about Quadrant acquires Elsevier’s IMNG here.
The MM&M article quotes an Elsevier adviser on the deal and states that the sale to Quadrant “was a good outcome for Elsevier, who strategically has made a decision not to be in the ad-driven marketplace.”. This appears to be true throughout Reed Elsevier as they also appear to be shedding non-healthcare publications such the selling of Variety magazine as illustrated in this Business Insider post.