Former Cygnus Execs Acquire Healthcare and Medical Communications Company
Mackler and Fisher have formed a partnership to acquire HMP Communications.
Former "Cygnus Business Media" executives Paul Mackler and Ken Fisher have formed a partnership to acquire medical information provider HMP Communications from BG Media Investors.
"It’s exciting to be back in the industry," Mackler tells Folio:. "Anyone who knows me knows that I would get back into the industry with the right opportunity. This is definitely the right opportunity."
Mackler, who most recently was CEO of Cygnus Business Media, will assume the role of president and CEO of HMP Communications, a $22 million business, with only half the revenue coming from print advertising. The company provides peer-reviewed products, journals, online information, symposia and exhibitions, among others.
"What we like the most is there is a constant thirst for new information, and there is a continuous need for education," says Mackler. Healthcare is a $1.7 trillion industry, he says, and the sectors HMP serves are multibillion-dollar areas themselves.
Mackler and Fisher, who previously was CFO of Cygnus Business Media, partnered with Boston-based private-equity investment firm Alta Communications for the acquisition. Alta is deeply involved in b-to-b media, backing Babcox Publications and 1105 Media, among others. GE Capital provided the financing for the deal.
BG Media Investors was represented by Berkery, Noyes & Co. The sale price was not disclosed.
HMP will continue to be based in Malvern, Pennsylvania, and its existing management team will remain intact, the company says.