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Haights Cross seeks buyer for Oakstone Publ'g acquires Buckle Down Publ'g.

Haights Cross Communications (HCC; 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 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, nuclear medicine, pediatrics, radiology and urology.

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 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), a producer of print and software preparation materials for state and national tests. No terms of the deal were given.
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Comment:Haights Cross seeks buyer for Oakstone Publ'g acquires Buckle Down Publ'g.
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:May 17, 2004
Words:246
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