(Alliance News) - Wilmington PLC on Friday said it has sold its French healthcare business, APM, for EUR26 million.
Wilmington is a London-based provider of information and training for governance and risk & compliance.
The company said it has sold its French healthcare arm to Philia Medical Editions SAS, a subsidiary of Europa Group Ltd.
For the year ended 30 June 2023, APM had gross assets of EUR9.6 million and reported a pretax profit of EUR2.3 million.
The proceeds of the sale will be used for general corporate purposes, Wilmington said.
Chief Executive Mark Milner said: "This sale reflects our continued and active management of our portfolio as we assess the potential of each business to exhibit the six common Wilmington characteristics that we recognise as key drivers of organic revenue growth and profitability improvement."
Shares in Wilmington were up 2.0% to 359.00 pence each in London on Friday afternoon.
By Sophie Rose, Alliance News senior reporter
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Wilmington (WIL)