Access Worldwide Sells Direct Mail Sampling Arm

Share this article:
Access Worldwide Communications will sell its Phoenix Marketing Group subsidiary, a pharmaceutical sampling, direct mail and database management business, for $33 million, the company said.


Express Scripts Inc. has agreed to buy Phoenix Marketing and assume $2 million of the subsidiary's liabilities. Access Worldwide said it would use proceeds from the sale to pay $25.7 million in debts, leaving $10.1 million.


Access Worldwide's board of directors has approved the deal. The company's stockholders will hold a special meeting in the first quarter of 2002 to give final approval.


"The further reduction or, if possible, the elimination of our debt remains a priority for this management team," said Michael Dinkins, chairman/CEO of Access Worldwide. "We are continuing to explore all strategic options including the possible disposition of our medical-education and market research operations."


Phoenix Marketing employs about 300 people at four sampling, management and warehouse facilities in New Jersey. It delivered 74 million samples in 2000 and sent 72.1 million in the first nine months of this year.


Express Scripts, Lincoln Park, NJ, is a pharmacy benefit management company. Access Worldwide, Boca Raton, FL, is a marketing services firm active in the pharmaceutical, telecommunications, financial services and consumer products industries.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

MeritDirect Opens San Jose Office

MeritDirect Opens San Jose Office

A force in direct mail, the company looks to expand its digital data services with a footprint in Silicon Valley.

Neustar Decides to Hand Data Over to its Clients

Neustar Decides to Hand Data Over to its ...

AK Media Insights Pro turns data over to marketers to create business-specific aggregations, integrate offline efforts, and probe deeper into their sales funnels.

Arthur Hughes, Who Wrote the Book on Database Marketing, Dies at 86

Arthur Hughes, Who Wrote the Book on Database ...

First published in the early days of the Web, Arthur Middleton Hughes's Strategic Database Marketing remains a bible for direct marketers.