June 10, 2010

Mizuho Capital Partners To Acquire Medical Tribune

Mizuho Capital Partners has agreed to acquire Medical Tribune, a publisher of medical weekly newspapers, from Impress HD (TSE9479) for JPY 5.3 billion (USD 58 million). Medical Tribune, which has 110,000 subscribers, recorded annual sales of JPY 4.9 billion (USD 54 million) and operating profits of JPY 0.65 billion (7.1 million) for the March 2010 period.

In 2003 Medical Tribune completed its first MBO from its German parent company with JAFCO as a MBO sponsor. It was acquired by Impress in 2005, but its management will look for an IPO opportunity again with Mizuho Capital Partners' sponsorship.

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