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Thomson Reuters Announces Definitive Agreement to Sell its Healthcare Business to Veritas Capital for $1.25 Billion
Thomson Reuters Announces Definitive Agreement to Sell its Healthcare Business to Veritas Capi...
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nThomson Reuters Announces Definitive Agreement to Sell its Healthcare Business to Veritas Capital for $1.25 Billion\n\nThomson Reuters Announces Definitive Agreement to Sell its Healthcare Business to Veritas Capital for $1.25 Billion\nNew York, April 23, 2012 - Thomson Reuters (TSX / NYSE: TRI),the world's leading source of intelligent information for businesses and professionals, today 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.\nThe 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, 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.\nThe 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. \n\"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.\"\n\"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, in...