Veritas to Buy Thomson Reuters Healthcare Business for $1.25B

Veritas Capital has agreed to acquire Thomas Reuters’ (NYSE: TRI) healthcare business for $1.25 billion cash, the companies announced Monday.

The companies expect the transaction to close within the next few months.

The acquisition aligns with Veritas’ goal of expanding its healthcare analytics offerings, said Chairman Robert McKeon.

Mike Boswood, president of the healthcare business, will continue in that role at Veritas.

The business provides data, analytics and measurement services to hospitals, health systems and government agencies, among other customers.

Customers use the services to identify potential savings and detect fraud and abuse.

Morgan Stanley and Allen & Company are advising Thomson Reuters and Covington & Burling LLP is acting as legal counsel for the company.

Veritas recently hired former Vangent CEO Mac Curtis to help the private equity firm identify and acquire companies in the government market.

Veritas completed its $960 million cash sale of Vangent to General Dynamics (NYSE: GD) in September 2011.

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