Reed Elsevier plc today announced that it has entered into an agreement to sell its US subsidiary, Springhouse Corporation, to Wolters Kluwer NV. Springhouse, based in Philadelphia, USA, is a leading provider of information products and services to the US nursing market and reported revenues in 1999 of $59 million. The transaction is subject to the normal regulatory processes and is expected to complete next month.

In February this year, chief executive Crispin Davis announced that Reed Elsevier plc planned to exit businesses, including Springhouse, that did not fit directly with the company's strategy.