Thomson Reuters Announces Definitive Agreement to Sell its Healthcare Business to Veritas Capital for $1.25 Billion
(Thomson Reuters ONE) -
NEW YORK, April 23, 2012 - Thomson Reuters (TSX / NYSE: TRI), the world's
leading source of intelligent information for businesses and professionals,
today announced that it has entered into a definitive agreement to sell its
Healthcare business to an affiliate of Veritas Capital for $1.25 billion in
cash.
The sale is subject to regulatory approval and customary closing conditions,
including the expiration or termination of applicable waiting periods under the
Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in the
next few months. The sale is not subject to any financing condition. Veritas has
obtained debt financing commitments for the transaction.
The Healthcare business provides data, analytics and performance benchmarking
solutions and services to hospitals, health systems, employers, health plans,
government agencies and healthcare professionals. With leading assets and
solutions such as MarketScan, Advantage Suite, Micromedex, CareDiscovery and
ActionOI, coupled with expert services and analysis, the Healthcare business
provides its customers with solutions to identify savings, improve outcomes,
fight fraud and abuse and more efficiently manage their healthcare operations.
"We are proud of our colleagues who built a very strong Healthcare business,"
said James C. Smith, chief executive officer of Thomson Reuters. "I know they
will continue to serve their customers with the same high standards under new
ownership. With the completion of the divestiture, Thomson Reuters will be even
more focused on our core global businesses."
"The Healthcare business of Thomson Reuters is the preeminent healthcare
analytics company in the industry today," said Robert McKeon, chairman of
Veritas Capital. "The acquisition will provide us with a unique and exciting
opportunity to add a truly outstanding business and world-class management team
to our portfolio and we look forward to building upon our experience in the
healthcare analytics market. We look forward to welcoming the business and its
talented employees, including its talented management team led by Mike Boswood,
into the Veritas family."
"We are excited to become part of Veritas Capital. Veritas is committed to
helping us continue to grow and expand our business and our customers should
expect the same level of high quality services after the transaction closes,"
said Mike Boswood, president of the Healthcare business.
Morgan Stanley and Allen & Company are acting as financial advisors to Thomson
Reuters for the proposed divestiture. Covington & Burling LLP is acting as legal
counsel for Thomson Reuters.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and science
and media markets, powered by the world's most trusted news organization. With
headquarters in New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs approximately 60,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto and New York Stock
Exchanges (symbol: TRI). For more information, go to http://thomsonreuters.com.
About Veritas Capital
Founded in 1992 and headquartered in New York, Veritas Capital is a leading
private equity investment firm that invests in companies that provide critical
products and services to government and commercial customers worldwide. Since
its founding, Veritas Capital has been involved as the lead investor in
transactions totaling more than $14 billion in value.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release about the Healthcare business and
Thomson Reuters expectations regarding the timing for the closing of the sale
are forward-looking. These forward-looking statements are based on certain
assumptions and reflect Thomson Reuters current expectations. As a result,
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. There can be no assurance that the sale of the Healthcare business
will be completed. Except as may be required by applicable law, Thomson Reuters
disclaims any obligation to update or revise any forward-looking statements.
Some of the material risk factors that could cause actual results or events to
differ materially from those expressed in or implied by forward-looking
statements in this news release are discussed in materials that Thomson Reuters
from time to time files with, or furnishes to, the Canadian securities
regulatory authorities and the U.S. Securities and Exchange Commission. Thomson
Reuters annual and quarterly reports are also available in the "Investor
Relations" section of www.thomsonreuters.com.
CONTACTS
Thomson Reuters
MEDIA INVESTORS
Calvin Mitchell Frank J. Golden
Senior Vice President, Corporate Affairs Senior Vice President, Investor
+1 646 223 5285 Relations
calvin.mitchell(at)thomsonreuters.com +1 646 223 5288
frank.golden(at)thomsonreuters.com
Veritas Capital
+ 1 212 415 6700
www.veritascapital.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
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Datum: 23.04.2012 - 09:01 Uhr
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