Veritas completes purchase of Thomson health unit

June 6 Thu Jun 7, 2012 2:00am IST

Stocks

   
Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

June 6 (Reuters) - Private equity firm Veritas Capital has completed its acquisition of the healthcare unit of Thomson Reuters Corp , and rebranded the business as Truven Health Analytics.

Thomson Reuters said in April it was selling its healthcare business - which provides data, analytics and other services to customers such as hospitals, health plans and pharmaceutical companies - for $1.25 billion in cash.

Truven will compete with rivals such as the Optum data and analytics division of health insurer UnitedHealth Group Inc , Verisk Analytics Inc, and Wolters Kluwer .

As it strikes out as a newly independent company, Truven 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 Officer 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," Boswood, who became chief of Thomson Reuters Healthcare in 2008, said in an interview.

Some of the company's main products help hospitals benchmark performance; health plans and employers manage patient groups such as diabetics; and pharmacists and healthcare providers find information abut medicines.

Truven, which has about 2,200 employees, derives 95 percent of its revenue from U.S. customers, but Boswood said he will be looking to expand outside North America "in a measured way" over the next few years.

For Thomson Reuters, the sale is part of the professional news and information provider's plan to shed non-core businesses to concentrate on faster growth areas such as financial risk and compliance.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Top News

REUTERS SHOWCASE

Kerry's India Visit

Kerry's India Visit

Kerry presses India on WTO deal ahead of arrival  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage