Business information provider Thomson Reuters, US, has announced that it has entered into a definitive agreement to sell its Healthcare business to an affiliate of Veritas Capital for $1.25 billion in cash.
The sale is subject to regulatory approval and customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act. The sale, expected to close in the next few months, is not subject to any financing condition. Veritas has obtained debt financing commitments for the transaction.
The Healthcare business provides data, analytics and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies and healthcare professionals. With leading assets and solutions such as MarketScan, Advantage Suite, Micromedex, CareDiscovery and ActionOI, coupled with expert services and analysis, the Healthcare business provides its customers with solutions to identify savings, improve outcomes, fight fraud and abuse and more efficiently manage their healthcare operations.
Founded in 1992, Veritas Capital is a leading private equity investment firm that invests in companies that provide critical products and services to government and commercial customers worldwide. Since its founding, Veritas Capital has been involved as the lead investor in transactions totalling more than $14 billion in value.
