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Thomson Reuters completes $1.25 billion cash sale of health unit

Wednesday 6 June 2012

Thomson Reuters has completed the sale of its healthcare unit for $1.25 billion in cash. The business provides data, analytics and other services to customers such as hospitals, health plans and pharmaceutical companies. Thomson Reuters sold it as part of a plan to shed non-core businesses in order to concentrate on faster growth areas such as financial risk and compliance.

Buyer Veritas Capital, a US private equity firm, has rebranded the business as Truven Health Analytics. Truven employs about 2,200 people and derives 95 per cent of its revenue from US customers. It will seek to expand its customer base and sell more of its services to existing clients, develop new products, and broaden its sources of data, said chief executive Mike Boswood. “The changes taking place in healthcare are for the most part dependent upon the better use of data, and we feel that we’re ideally positioned,” he said. ■

SOURCE
Reuters