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Ascential sells Health Service Journal

19 January 2017 07:55

Ascential has agreed the sale of Health Service Journal to Wilmington for £19m.

The sale is expected to complete on 31 January and proceeds will be used to reduce Ascential's net debt and invest in the business.

HSJ is a leading source of information for both public and private health professionals.

In 2016 HSJ generated revenue of £10m and EBITDA of £2.8m.

Its gross assets at June 2016 were £12.8m including intangibles.

Chief executive Duncan Painter said: "This is the first key milestone in finding the right future home for our Heritage Brands and highlights the attraction of these brands to new owners. HSJ is recognised as a market leader in its sector and I have confidence that Wilmington will provide the right environment for its continued success."

Story provided by StockMarketWire.com

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