Accredited medical education and communications firm NACCME acquired CME LLC, which operates the US Psychiatric & Mental Health Congress. Terms were not disclosed.
It was the second acquisition for NACCME owner HMP Communications Holdings from UBM Medica. In 2011, HMP acquired medical journals Consultant and Consultant for Pediatricians.
More deals among private-equity backed regional CME players could be coming. “[It's] a continuation of what we see as… the big multi-billion dollar companies divesting these assets that aren't core and are hard to scale,” said Tom O'Connor of Berkery Noyes, who represented the seller on both transactions.
In traditional healthcare spaces like CME, O'Connor told MM&M, “Regional players have a closer touch on the market and can capitalize.”
HMP competes in trade shows, publications, data and events. Its commitment to the CME space is what mattered in this deal. Indeed, CME LLC, with its market-leading psych congress, represents an adjacent market for HMP, which has several other continuing education assets. By contrast, CME LLC was a “lone offering” for UBM that nevertheless had to be firewalled from its non-CME holdings, said O'Connor.
CME LLC will remain under the direction of Ann Marie DeMatteo, CME LLC president. She joins NACCME as SVP of educational services, maintaining her leadership role with the US Psychiatric & Mental Health Congress and CME LLC's other programming in mental health, pain, oncology and more.
Next November's congress will mark its 25th anniversary.