Springer Science+Business Media Acquires Current Medicine Group

* Current Medicine Group Ltd (London), which publishes books, pamphlets and manuals for primary care professionals, hospitals and physicians

* Science Press Internet Services Limited (London), which creates and manages websites and produces educational content and news via its portal MedWire

* Current Medicine LLC (Philadelphia), which publishes atlases and produces an image library (Images.MD)

* Current Science Inc (Philadelphia), which publishes medical review journals

The acquisition links complementary businesses, strengthens Springer's existing position in the United Kingdom, and will provide Springer with a strong position in the US pharmaceutical publishing market, which is the world's largest and fastest-growing.

CMG brings an immediate and significant expansion of Springer's programs in critical care/emergency medicine, primary care/family medicine and geriatrics and well-established Springer programs in surgery and radiology will be enhanced. The shared pool of authors as well as common subject areas are further benefits of this add-on acquisition, which will drive further organic growth. Over the past twelve months CMG realised sales of around USD 20.5 million.

Derk Haank, Springer's CEO said: "Springer is of course already active in medical publishing, but the focus is mostly on academic audiences. The acquisition of CMG further strengthens Springer's position in sponsored publishing in the US and UK. Springer already has similar operations in Germany, the Netherlands and Italy and with the acquisition of CMG we will strengthen these activities significantly. Springer's STM operations and CMG's publishing programs will not be integrated since they serve different markets. In the coming months we will look at the appropriate organizational structure to give us maximum benefit." The approximately 100 employees of the units will join Springer. Abe Krieger and Jane Hunter, Managing Directors of, respectively, CMG's US and UK businesses, will also join Springer and continue to run the CMG units.

Abe Krieger said: "I am truly excited to join Springer and am convinced we can grow CMG activities by accelerating our publishing programs and by increased marketing and sales, not only in pharmaceutical publishing, but also in surgery and radiology."

Jane Hunter said: "I see a tremendous opportunity for CMG and Springer.
Certain parts of our businesses are already complementary, such as Science Press Internet Services and Springer's BSMO. We feel we can upgrade SpringerLink's science portal with our MedWire news services."

Springer Science+Business Media (www.springer.com) is the second largest publisher of scientific, technical and medical (STM) information in the world, and was formed out of the integration of the former BertelsmannSpringer and Kluwer Academic Publishers. Springer comprises some 5,000 employees working in 70 businesses and publishing units in 19 countries all over the world.