Huveaux PLC is pleased to announce the acquisition from France Telecom of ATP-Egora SA, a French company which publishes 4 specialist medical magazines under the umbrella brand “Réseaux” (networks) and a website www.egora.fr for professionals in the French healthcare sector.
Consideration for the transaction amounts to €500,000 (£340,000) which has been paid in cash. ATP-Egora is being acquired with net tangible assets of €443,000 (£301,000), including cash of €355,000 (£241,000) and no debt.
ATP-Egora was created in 2001 through the merger of Egora, a medical website information service which was created by France Telecom, with ATPCom, a company founded in 1996 by Alain Trébucq, who remains with the business.
ATP-Egora’s results for the year ended 31 December 2003 show turnover of €1,872,000 (£1,273,000) and break-even before exceptional items, finance costs and amortisation. In the eight months to 31 August 2004, ATP-Egora has delivered a pre-tax profit of €47,000 (unaudited). ATP-Egora will be merged with the operations of Le Trombinoscope in the Political Division. Consequently, the acquisition is expected to meet Huveaux’s high standards of growth, profit margin, cash flow and return on capital, and is anticipated to be earnings enhancing in 2004.
John van Kuffeler, Chairman, said: “The increasing amount of healthcare legislation at both a European and domestic level leads us to believe there will be a growing demand for information from the government-funded medical industry. This is our third acquisition this year and our seventh in 26 months.”
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Notes to the Editor
About Huveaux:
Huveaux, admitted to AIM in December 2001, has the objective of building a substantial publishing and media group over the next 10 to 15 years. It currently has two publishing divisions, Political and Education and Training.
Huveaux was founded by John van Kuffeler, formerly Chief Executive and now non-executive Chairman of FTSE-100 Provident Financial.
For all press enquires contact :
John van Kuffeler, Huveaux PLC: 020 7245 0270
Geoff Callow, Bell Pottinger: 020 7861 3877