Haights Cross seeks buyer for Oakstone Publ'g acquires Buckle Down Publ'g.Haights Cross Communications (HCC HCC Hepatocellular Carcinoma (liver cancer) HCC Hertfordshire County Council (administrative region of south eastern England UK) HCC Harford Community College (Maryland) ; White Plains, NY) Is seeking a buyer for its Oakstone Publishing (Birmingham, AL) unit. The company said it hopes to complete a sale by the end of the third quarter. HCC has hired Lane, Berry & Co. International (Boston, MA) to handle the sale. Oakstone Publishing is comprised of Oakstone Medical, acquired by HCC in 1997, and Oakstone Wellness, acquired by HCC in 1998. Oakstone Medical provides subscription-based continuing medical education continuing medical education See CME. resources for doctors and other health professionals. Available both online and in print, the unit's products cover a range of medical fields, including cancer management, cardiology, OB/GYN, pathology, surgery, geriatrics geriatrics (jĕrēă`trĭks), the branch of medicine concerned with conditions and diseases of the aged. Many disabilities in old age are caused by or related to the deterioration of the circulatory system (see arteriosclerosis), e.g. , nuclear medicine, pediatrics, radiology and urology urology Medical specialty dealing with the urinary system and male reproductive organs. It traces its origin to medieval lithologists, itinerant healers who specialized in surgical removal of bladder stones. . Oakstone Wellness provides subscription-based employee health and wellness newsletters and related products that are sold to corporations in bulk. Oakstone Publishing had 2003 revenue of $18.2 million. HCC said the unit had a compound annual growth of 6.6% on revenue and 20.2% on EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become over the period 1999-2003. HCC chairman/ceo Peter Quandt said "our decision to divest 0akstone is based on our long-term strategic commitment to building HCC's position as a premier, pure-play K-12 educational and library publisher." In that regard, HCC has acquired Buckle Down Publishing Co. (Iowa City, IA), a publisher of test preparation materials for state tests. Buckle Down will become a subsidiary of Triumph Learning (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), a producer of print and software preparation materials for state and national tests. No terms of the deal were given. |
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