Sale of APM International
118²Êͼ¿â, has sold its French healthcare business, APM, for an enterprise value of €26 million in cash, subject to customary working capital adjustments, to Philia Medical Editions SAS, a subsidiary of Europa Group.
For the year ended 30 June 2023, APM had gross assets of €9.6 million and reported a profit before tax of €2.3 million. The proceeds of the sale will be used for general corporate purposes.
Mark Milner, Chief Executive Officer of 118²Êͼ¿â, said, "This sale reflects our continued and active management of our portfolio as we assess the potential of each business to exhibit the six common 118²Êͼ¿â characteristics that we recognise as key drivers of organic revenue growth and profitability improvement."
Marc Doncieux, Chairman and co-Founder of Europa Group, said, "APM's entry into Europa Group is a major asset in consolidating our position as the French leader in training and health information. APM is a key player in our market, whose reputation for excellence and independence is perfectly in line with Europa Group's global strategy. We are delighted to welcome them on board!"
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