The purchase of an 80% stake in the company that runs three leading exhibitions and conferences for the US anti-aging market sees Tarsus add a new business division to its four departments, which currently cover seven global market sectors.
Tarsus secured the deal in late November, thereby stealing a march on two other interested parties, believed to be Reed Exhibitions and Advanstar US. To part fund the deal, Tarsus placed more than five million shares at 207p each, which raised more than £11m.
Founded in 2003 by Dr Robert Goldman and Dr Ronald Klatz, MCII operated its anti-aging shows annually in Orlando in April, Chicago in July and Las Vegas in December. The most recent event, the 14th Annual International Congress on Anti-Aging Medicine and Regenerative Biomedical Technologies, was held at the Venetian Resort Hotel Casino in Las Vegas from 7-10 December. More than 6,000 visitors attended from 90 countries. MCII also holds joint venture partners across the world, resulting in 27 small conferences planned for 2007.
Douglas Emslie, managing director of Tarsus Group, said: "We are delighted to acquire MCII at an early stage in its development. The company has shown its ability to grow and is in a sector of the medical market that itself is expanding rapidly. This acquisition takes Tarsus into a fast-growing area and further broadens the number of sectors we serve."
At the close of 2005, MCII's turnover was US$3.9m (£1.99m). Profits for last year are expected to exceed US$5.5m (£2.81m).