Thomson Reuters announced Monday it will sell its healthcare business to an affiliate of Veritas Capital for $1.25 billion in cash.
Pending regulatory approval, the deal is expected to close within the coming months.
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Thomson Reuters' healthcare business offers data, analytics and performance benchmarking technologies to hospitals, health systems, employers, health plans, government agencies and healthcare professionals.
Its healthcare assets, including MarketScan, Advantage Suite, Micromedex, CareDiscovery and ActionOI, help Thomson Reuters customers identify savings, improve outcomes, fight fraud and more efficiently manage their operations.
"The Healthcare business of Thomson Reuters is the preeminent healthcare analytics company in the industry today," said Robert McKeon, chairman of Veritas Capital, in a statement. "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 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."