Thomson Reuters to Sell Healthcare Subsidiary for $1.25 Billion
Thomson Reuters announced today its plans to sell its healthcare business to Veritas Capital for $1.25 billion in cash. Expected to close within the next few months, the sale is subject to regulatory approval.
"We are proud of our colleagues who built a very strong Healthcare business," said James C. Smith, chief executive officer of Thomson Reuters. "I know they will continue to serve their customers with the same high standards under new ownership. With the completion of the divestiture, Thomson Reuters will be even more focused on our core global businesses."
Thomson Reuters’ healthcare affiliate excels in providing data, analytics and performance benchmarking solutions to the healthcare industry. Utilized by hospitals, health systems, employers, health plans, government agencies and healthcare professionals, Thomson Reuters healthcare services include leading solution brands such as MarketScan, Advantage Suite, Micromedex, CareDiscovery and ActionOI.
"The Healthcare business of Thomson Reuters is the preeminent healthcare analytics company in the industry today," said Robert McKeon, chairman of Veritas Capital. "The acquisition will provide us with a unique and exciting opportunity to add a truly outstanding business and world-class management team to our portfolio and we look forward to building upon our experience in the healthcare analytics market. We look forward to welcoming the business and its talented employees, including its talented management team led by Mike Boswood, into the Veritas family."
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Veritas Capital, a leading private equity investment firm, regularly invests in companies that provide leading products and services to its customers.
"We are excited to become part of Veritas Capital. Veritas is committed to helping us continue to grow and expand our business and our customers should expect the same level of high quality services after the transaction closes," said Mike Boswood, president of the Healthcare business.