Jobson Medical Information Holdings Files for Chapter 11
The company expects to emerge from the pre-packaged deal in 30-40 days.
Jobson Medical Information Holdings LLC has filed for a pre-packaged Chapter 11 bankruptcy plan. The company expects to emerge from the plan in 30 to 40 days.
The company reached an agreement with the majority, not all, of its lenders to extend its credit. "This credit agreement will provide us with the flexibility needed to continue our growth," says Jobson CEO Jeff MacDonald in a statement. "JMIH is a very strong and profitable business and will continue to operate at the same high level of quality and reliability to which our customers, vendors and employees have become accustomed."
The plan was filed in U.S. bankruptcy court in Manhattan Thursday.
In 2005, Wicks Medical Information, backed by private equity firm Wicks Group, bought Jobson Publishing for an estimated $100 million. The purchase was timed with the acquisition of medical education company DesignWrite.
Later in 2008, Jobson bought Thomson Corporation’s CenterWatch and New England Institutional Review Board.
Among Jobson’s brands are 20/20, U.S. Pharmacist and Review of Optometry.