June 6 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