|The McGraw-Hill Companies Completes Acquisition of Appleton & Lange|
|June 25, 1999--The McGraw-Hill
Companies (NYSE: MHP) today announced that it has completed its
acquisition of medical publisher Appleton & Lange Inc. from Pearson
plc for $46 million.|
"The Appleton & Lange acquisition extends our global presence in
the high-growth healthcare industry," said Harold McGraw III,
president and chief executive officer of The McGraw-Hill Companies.
"Their well-known medical texts, electronic products and clinical
reference titles strengthen and complement our medical information
Appleton & Lange is a strong force in medical publishing. The
Lange Series of basic medical science books, the Current Medical
Diagnosis & Treatment series, and the First Aid series of review books
are well-known and trusted brands in the medical marketplace. Appleton
& Lange also has an extensive line of clinical reference products in
obstetrics, internal medicine, pharmacology and other subjects.
The McGraw-Hill Companies provides cutting-edge healthcare and
medical products in traditional and electronic formats to medical
students, clinical practitioners and allied health field
professionals. Its products include such professional titles as
Harrison's Principles of Internal Medicine and Pulmonary Diseases and
Disorders, as well as medical journals and magazines, including
Healthcare Informatics and The Physician and Sportsmedicine.
Founded in 1888, The McGraw-Hill Companies is a leading
information services provider meeting worldwide needs in education,
business, finance, the professions and government. The corporation
employs 16,500 people located in more than 400 offices in 32
countries. Sales in 1998 were $3.7 billion.