Thomson Reuters to sell healthcare unit for $1.25B
Posted: 7:02 pm Mon, April 23, 2012
NEW YORK — Thomson Reuters Corp., one of the world’s largest news and information companies, on Monday said that it would sell its health care analytics division to Veritas Capital for $1.25 billion in cash.
The division helps hospitals, employers and government agencies improve health care efficiency and find savings.
Veritas is a New York-based private-equity fund.
The parties expect the deal to close in the next few months.
New York-based Thomson Reuters said in June that it planned to sell the healthcare unit because it wasn’t a good fit with its other operations. It suspended the search for a buyer in December, saying “global economic conditions” meant it wouldn’t be getting a fair value.
The healthcare division had 2010 revenues of about $450 million and a profit margin comparable with that of the overall company.
Thomson Reuters shares fell 57 cents, or 2 percent, to $28.31 in morning trading. They have been trading near the lower end of their 52-week range of $25.28 reached in mid-December. Its shares traded as high as $41.34 nearly a year ago.
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