Thomson Reuters Sells Healthcare Data Unit to Veritas
Media and business information giant Thomson Reuters said Monday it is selling its Healthcare data business to private investment group Veritas Capital for $1.25 billion.
The all-cash deal gives Veritas "the preeminent healthcare analytics company in the industry today," said Veritas chairman Robert McKeon said in a Thomson Reuters statement.
The business provides data analytics that help hospitals, employers, health plans and other healthcare firms analyze performance and the market.
"With the completion of the divestiture, Thomson Reuters will be even more focused on our core global businesses," Thomson Reuters chief executive James Smith said.
The Wall Street Journal reported that Thomson Reuters sought last year to sell the unit, which has 10 offices across the United States.
But it put off the sale until market conditions improved, the Journal said.
Thomson Reuters shares were down 2.1 percent to $28.28 in morning trade.