Thomson puts med ed biz on the block

Share this article:
Thomson Medical Education (TME), whose three businesses comprise the world's largest med ed organization,will be sold.

Thomson announced the sale last week as it posted second-quarter earnings of $171 million, down from $301 million a year earlier when there was a big one-time tax gain, and revenues of $2.1 billion, up 7% from the prior-year period. Thomson also introduced a “business optimization” plan designed to save about $300 million from the holding company's costs by 2009.

TME, part of the Scientific and Healthcare group, accounted for $97 million in revenue last year and will be shed in an ongoing sale of minor businesses.

“We found that [TME] doesn't fit well with our long-term growth strategy” of providing applications and services to healthcare professionals, insurers and employers, said Kyle Christensen, a spokesman.

The decision to divest TME follows the departure of top executives Jeff MacDonald, former head of the med ed unit, and Marty Cearnal, its chief strategy officer. MacDonald was replaced by Dik Barsamian, division EVP, earlier this year.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Channel

Email Newsletters

MM&M Future Leaders


Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Channel

Five things for pharma marketers to know: Monday, September 15

Five things for pharma marketers to know: ...

Pharma has sought 76 meetings with FDA over biosimilars; Gilead licenses Sovaldi to India generic drugmakers; Pfizer and Ranbaxy Lipitor lawsuit dismissed.

Liraglutide, aiming for new indication, gets new name

Liraglutide, aiming for new indication, gets new name

Why Novo Nordisk is choosing not to leverage Victoza's brand equity as it seeks a weight-loss indication for liraglutide.

Five things for pharma marketers to know: Friday, September 12

Five things for pharma marketers to know: Friday, ...

An FDA panel voted in favor of liraglutide for weight loss; Allergan investors backing an attempted takeover of the firm crossed a critical threshold; and 100 million health wearables are ...