USA - Organiser Tarsus Group has bought the remaining 20 per cent stake in privately held Medical Conferences International (MCI) for US$10.8m in shares.
The company, which organises events for the aviation and label and packaging industries, has been increasing its focus on emerging markets and hopes to expand in the fast growing medical education market in the US.
Tarsus has also posted a 36 per cent rise on full-year adjusted pre tax profit. It said that forward bookings stood at 49 per cent of anticipated 2010 revenue, up on 48 per cent the previous year, which MD Doug Emslie called a “significant achievement given the current macroeconomic climate”.
Emslie told Exhibition World that MCI’s prominence in the marketplace is the key reason for the investment, adding “in recession people tend to focus all their market spend on the market leading events”.
For the year ended 31 December 2009, the company earned a pre tax profit of £14.6m, compared with £10.7m a year ago.
