Thomson Reuters, a New York-based provider of information systems for numerous industries, including hospitals and healthcare providers, is selling its healthcare business to New York-based Veritas Capital for $1.25 billion in cash. The sale is subject to regulatory approval and customary closing conditions and is expected to close in the next few months. The sale is not subject to any financing condition. Veritas has obtained debt financing commitments for the transaction.
Thomson Reuters’ healthcare business provides data, analytics, and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies, and healthcare professionals. It has solutions such as MarketScan, Advantage Suite, Micromedex, CareDiscovery, and ActionOI, and consulting services as well.
"We are proud of our colleagues who built a very strong Healthcare business," James C. Smith, chief executive officer of Thomson Reuters, said in a statement. "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."
Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters for the proposed divestiture.
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