Thomson Reuters has sold its health-care business to private-equity firm Veritas Capital for $1.25 billion (approximately Rs. 7000 crore) in an all-cash deal..Khaitan & Co advised Thomson Reuters on the Indian leg of the transaction with a team led by Partner Rabindra Jhunjhunwala..Covington & Burling acted as International legal counsel to Thomson Reuters with a team led by Partner J.D. Weinberg..Sullivan & Cromwell advised Veritas Capital with a team led by Partner Scott Miller..The Healthcare business provides data, analytics and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies and healthcare professionals..Veritas Capital is a private equity firm specializing in investments in leveraged recapitalizations, buyouts, and growth capital investments. The firm seeks to invest in companies involved in technology and outsourcing services to the government, primarily in the areas of defense and aerospace; media; and infrastructure. Veritas Capital was founded in 1992 and is based in New York..According to 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 like financial risk and compliance..The sale of the Healthcare unit, subject to regulatory approval, is expected to close in the next few months..Veritas Capital has obtained debt financing commitments for the transaction, which is not subject to any financing condition. Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters on the proposed divestiture.
Thomson Reuters has sold its health-care business to private-equity firm Veritas Capital for $1.25 billion (approximately Rs. 7000 crore) in an all-cash deal..Khaitan & Co advised Thomson Reuters on the Indian leg of the transaction with a team led by Partner Rabindra Jhunjhunwala..Covington & Burling acted as International legal counsel to Thomson Reuters with a team led by Partner J.D. Weinberg..Sullivan & Cromwell advised Veritas Capital with a team led by Partner Scott Miller..The Healthcare business provides data, analytics and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies and healthcare professionals..Veritas Capital is a private equity firm specializing in investments in leveraged recapitalizations, buyouts, and growth capital investments. The firm seeks to invest in companies involved in technology and outsourcing services to the government, primarily in the areas of defense and aerospace; media; and infrastructure. Veritas Capital was founded in 1992 and is based in New York..According to 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 like financial risk and compliance..The sale of the Healthcare unit, subject to regulatory approval, is expected to close in the next few months..Veritas Capital has obtained debt financing commitments for the transaction, which is not subject to any financing condition. Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters on the proposed divestiture.
