Thomson Reuters sells healthcare unit to Veritas
NEW YORK (Reuters) - News and information company Thomson Reuters Corp (TRI.TO: Quote) (TRI.N: Quote) said on Monday it will sell its healthcare business to private equity firm Veritas Capital for $1.25 billion in cash.
Thomson Reuters' Healthcare business provides data, analytics and other services to hospitals, government agencies and healthcare professionals to help them identify savings and improve efficiency.
The sale, subject to regulatory approval, is expected to close in the next few months, Thomson Reuters said in a statement.
"With the completion of the divestiture, Thomson Reuters will be even more focused on our core global businesses," Chief Executive Jim Smith said in the statement.
Veritas Capital has obtained debt financing commitments for the transaction, which is not subject to any financing condition.
Morgan Stanley (MS.N: Quote) and Allen & Company are acting as financial advisors to Thomson Reuters on the proposed divestiture. Covington & Burling LLP is acting as legal counsel.
(Reporting by Soyoung Kim, Editing by Tiffany Wu and Alden Bentley)
© Thomson Reuters 2017 All rights reserved.