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:
close

Next Article in News

Email Newsletters

More in News

AstraZenca beefs up respiratory portfolio

AstraZenca beefs up respiratory portfolio

AstraZeneca has made an $875-million move to beef up its respiratory pipeline by making Almirall's lineup its own.

Amgen Q2 sales rise, company to lay off up to 2,900

Amgen Q2 sales rise, company to lay off ...

The majority of the layoffs will be in the US.

Doctors want to know how CMS plans to display Sunshine payment data

Doctors want to know how CMS plans to ...

Physician and industry trade groups are asking CMS to explain how context will be provided to the general public around the dollar sums drugmakers ascribe to doctors for things like ...