UBM plc (LSE: UBM-LN) today announces the acquisition of Hospitalar, Latin America’s largest healthcare tradeshow, from SPFC Group.
Hospitalar is one of Brazil’s top five tradeshows, featuring 1,250 Brazilian and international exhibitors and attracting approximately 95,000 attendees.
Hospitalar 2015, the 22nd edition of the International Fair of Products, Equipment, Services and Technology for Hospitals, Laboratories, Pharmacies, Health Clinics and Medical Offices took place in the Expo Center Norte in São Paulo from 19 to 22 May. The event serves the large Brazilian healthcare industry where growth is set to continue through the expansion of private healthcare for a growing, more affluent middle class. It generated revenue of approximately R$32m (£6.6m).
Hospitalar joins UBM’s portfolio of events in Brazil which includes Marintec South America, Food Ingredients South America, Concrete Show South America, NT Expo and Intermodal South America. The acquisition will make UBM the third largest events organiser in Brazil.
Following completion, Hospitalar’s staff will move over to UBM Brazil and the founders of the show will remain involved in a non-executive capacity for at least two years.
The return on investment from the transaction is expected to exceed UBM’s weighted average cost of capital in the first full year of its ownership.
Tim Cobbold, CEO of UBM plc, said:
“We are delighted to have acquired Hospitalar. It is a “must-attend” show with an increasingly international customer base and will further strengthen our position in Brazil. It also fits very neatly with the wider UBM portfolio and we are excited about the opportunity to leverage UBM’s strong position in the Medical Device and Manufacturing sector. We are already planning to co-locate a MD&M show alongside Hospitalar 2016.”
Francisco Santos, Chairman of SPFC, said:
“We are delighted that Hospitalar is joining UBM Brazil. The show has grown into a huge success over the last two decades and its future prospects are strong. It is a world-leading event and will fit well within the impressive UBM portfolio.”