Veritas completes purchase of Thomson health unit

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

Stocks

   

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

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

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