Cambridge Healthtech Institute Acquires IDG’s Bio-IT World Media and Events
NEWTON, MA – MARCH 2, 2006 – Cambridge Healthtech Institute of Newton today announced the acquisition of Bio-IT World, Inc.’s media and events properties. The flagship publication, Bio-IT World magazine, introduced in March 2002, has grown from a 10-times-per-year publication to include a range of online and event businesses.
Cambridge Healthtech Institute (CHI) is a leading conference producer for the life sciences industry. In the past 14 years, it has produced more than 400 conferences in the US and Europe.
International Data Group (IDG), the original parent company of Bio-IT World, with headquarters in Boston, will have a minority equity position in Bio-IT World when the transaction is completed on March 1, 2006.
“This agreement represents a new era for Cambridge Healthtech Institute as we expand our information sources for life sciences practitioners and marketers to include online and print media,” said Phillips Kuhl, president, Cambridge Healthtech Institute. “Bio-IT World has a superior reputation validated by the several dozen editorial and design awards its staff has earned in just three years.”
Bio-IT World will join two other media properties: Pharmaceutical Discovery and PharmaWeek. PharmaWeek is available on the Web only while Pharmaceutical Discovery will relaunch in print and online in May following its acquisition last year from Advanstar Communications. Kuhl explained: “Bringing these three publications together allows CHI to provide comprehensive coverage and marketing programs across important life sciences sectors.”
In explaining the transaction, Bob Carrigan, president, IDG Communications said: “Cambridge Healthtech Institute is well-known for its high-quality conferences and Bio-IT World collaborated with CHI in an event last fall. Bio-IT World combined with CHI will become the key information and conference resource for the industry.”
Thirteen staff members will transfer to CHI and continue to work out of Bio-IT World offices in Framingham. They will join 60 CHI employees who work in Newton.
The agreement comes five weeks before Bio-IT World’s Life Sciences Conference & Expo in Boston, April 3-5. Kuhl said: “CHI will continue to grow this important event in one of the world’s leading life sciences research centers.” CHI just concluded its Molecular Medicine Tri-Conference last week in San Francisco.
About Cambridge Healthtech Institute
CHI’s renowned conferences are the underpinning for all our other information resources. Each year, CHI organizes over 80 conferences held throughout the US. including The Molecular Medicine Tri-Conference, Beyond Genome, PepTalk and the World Pharmaceutical Congress. The company strives to develop quality programs that provide valuable new insights and competing points of view while offering balanced coverage of the latest developments. Basic research related to commercial implications is covered, with heavy emphasis placed on end-user insights into new products and technology as well as coverage on the strategy behind the business. Leading researchers and business experts from top pharmaceutical, biotech and academic organizations present their most current findings in a forum that features panel discussions and audience participation. Over the past 14 years, CHI has produced more than 400 conferences, attracting more than 50,000 attendees from around the world.
About Bio-IT World, Inc. and IDG
A business unit of IDG, Bio-IT World, Inc., publishes information across a variety of media to meet the needs of bio-IT, life sciences, healthcare, pharmaceutical and regulatory professionals. The company's award-winning publication, Bio-IT World, and accompanying website, www.bio-itworld.com , deliver the latest news, analysis and information on the application of technology products and services to enable the life sciences R&D value chain – spanning basic research, drug discovery and development, clinical trials, and regulatory compliance. Established in September 2001, Bio-IT World, Inc., is headquartered in Framingham, Mass.
International Data Group (IDG) is the world's leading technology media, research, and event company. A privately-held company, IDG publishes more than 300 magazines and features the largest network of technology-specific Web sites with more than 400 around the world. IDG is also a leading producer of more than 170 computer-related events worldwide including LinuxWorld Conference & Expo(R), Macworld Conference & Expo(R), DEMO(R), and IDC Directions. IDC provides global market research and advice through offices in 50 countries. Company information is available at http://www.idg.com .