Knutsford-based Texere Publishing, one of the world’s fastest-growing specialist scientific and medical publishers, has been acquired by US-based healthcare media company BroadcastMed.
Founded in 2012, Texere has built a portfolio of titles including The Analytical Scientist, The Cannabis Scientist, The Medicine Maker, The New Optometrist, The Ophthalmologist, The Pathologist and The Translational Scientist. The most recent addition, ID Transmission, was launched in January this year and focuses on infectious diseases.
The company currently employs around 60 staff in the UK and has offices in the US. Over 50 per cent of its revenue now comes from the North American market. Texere continued to achieve year-on-year growth throughout the pandemic, having increased revenues by 30 per cent in the three years to December 2022.
The acquisition continues the aggressive expansion of BroadcastMed’s total reach to over 2.8 million health care professionals. The investment in Texere is backed by 424 Capital, its growth capital partner.
Peter Gailey, President of BroadcastMed, said: “Our acquisition of Texere widens BroadcastMed’s global reach and helps us to expand the company’s influence, not only to its existing healthcare beneficiaries, but also to new audiences in the science and technology fields which drive better outcomes for all healthcare constituencies.”
Andrew Davies, CEO, said: “Texere is thrilled to join forces with the innovators at BroadcastMed to better serve scientific and healthcare providers globally.” Tracey Peers, COO, added: “Combining Texere Publishing’s media portfolio with that of Broadcastmed aligns with our vision for growth and will help expand our reach to the scientific and healthcare community. By leveraging our combined expertise and resources, we can deliver even greater value to our audience and partners.”
The deal provides an exit for Texere’s investors Mercia and AXM Venture Capital, both of whom had initially backed the company in 2012 using investment from the North West Fund. It also enables Texere’s founders Andrew Davies, the CEO, and Tracey Peers, COO, to realise their investment in the business. They will continue in their current roles to help the company pursue its growth strategy.
Mercia reported a 4.5x return on its initial investment. Will Clark, MD of Mercia’s Regional Venture Funds, said: “Texere has built a strong team, a portfolio of successful titles and a global readership in the space of just a decade. Its achievements are all the more remarkable given the challenges that publishers have faced in recent years. This deal will allow it to continue its growth as part of a larger media business.”
