MJH Associates has acquired media assets from the UBM Life Sciences Group, making the firm the largest privately held medical media company in the U.S.
The newly formed business unit, known as MultiMedia HealthCare, launched on Thursday.
MJH bought the assets from Informa, which took over UBM last year for $5 billion, according to Reuters. The wire service reported that the Life Sciences Media Brands portfolio was sold to MJH for more than $100 million.
The acquisition also includes six offices in the U.S. and one in the U.K., along with more than 220 associates. The deal brings the total number of MJH employees to more than 600 globally. The MultiMedia Healthcare unit’s staff could grow to more than 300 employees in a year, the company said in a statement.
MJH has acquired more than 20 brands in each of UBM Life Sciences Group’s three markets of healthcare, pharma, and animal health, including Medical Economics, Patient Care, and Dermatology Times.
Tom Ehardt, EVP and managing director of UBM Life Sciences Group, will serve as president in addition to his current role. He will report to MJH COO George Glatcz.
“We want to continue to improve the quality of life of patients, whether it be in the eye care market, the oncology market, or the dermatology market,” said Michael J. Hennessy, Jr., president of MJH. “These brands fit really well within our mission here at MJH.”
During the first year, MJH plans to focus on growing the new brands. Hennessy said its priority will be to “add on live events and online video promotions to scale the business.”