Publishing Executive, FOLIO and other publishing industry sources have reported that Lebhar-Friedman, an 80 year old B2B publisher, has indeed sold its medically oriented Dowden Professional Publications Division.
FOLIO’s Jason Fell reported:
Trade publisher Lebhar-Friedman has sold Dowden Professional Publications to multimedia communications company Quadrant HealthCom Inc. Financial terms were not disclosed.
Included in the deal are Dowden’s four medical journals: OBG Management, Current Psychiatry, The Journal of Family Practice and Mayo Clinic Proceedings. Also included is its events division.
According to Lebhar-Friedman president Roger Friedman, the sale allows the publisher to better “concentrate” its media strategies. About 30 Dowden Professional Publications staffers are expected to relocate to Quadrant HealthCom Inc.’s headquarters in Parsippany, New Jersey.
What the deal means for the remaining Dowden properties was not immediately clear. A Lebhar-Friedman spokesperson did not immediately return a call seeking comment.
Quadrant HealthCom publishes nine medical journals and their affiliated Web sites serving a number of markets, including dermatology, primary care, neurology, emergency medicine and women’s health.
One investment banker contacted by FOLIO: said the deal seems “surprising.” “It must have been for a robust price,” the banker said. “Lebhar-Friedman seemed to love this business. Health care media is still a desirable sector.”
Lebhar-Friedman acquired Dowden Health Media in 2005, effectively expanding the company beyond the retail and foodservice markets it had traditionally served. The purchase was financed through GE Commercial Finance Global Media & Communications.
According to its Web site, Dowden Health Media also publishes the Annals of Clinical Psychiatry (American Academy of Clinical Psychiatrists), Current Clinical Practice, and Sexuality, Reproduction & Menopause, and produces APCToday.com. The division also includes the Medical Education unit and Dowden Custom Media, which develops and produces custom publications, interactive e-media solutions and live multi-channel events for healthcare organizations.
Last week, Lebhar-Friedman announced leadership changes in both advertising and editorial for its Nation’s Restaurant News publication