Veritas closes $1.25bn healthcare deal

The firm has completed its acquisition of Thomson Reuters’ healthcare business, which provides data analysis services for hospitals, health systems and government agencies.

Veritas Capital has completed a $1.25 billion deal to acquire Thomson Reuters’ healthcare business, which the firm has renamed Truven Health Analytics, according to a statement. 

The firm announced the deal in April. The transaction was subject to regulatory approval. The deal included debt financing of an undisclosed amount. Veritas did not respond to a request for comment. 

In 2010, Veritas raised $1.2 billion for its fourth flagship vehicle, which targets mid-market companies in the defense, aerospace and federal government services sectors, according to Missouri State Employees’ Retirement System documents. 

In addition to MOSERS, Fund IV included commitments from the Montana Board of Investments, the Oregon Investment Council, the Public Employee Retirement System of Idaho, San Diego City Employees’ Retirement System, Teachers’ Retirement System of Illinois, El Paso Firemen and Policemen’s Pension Fund and the Arizona State Retirement System, according to data provider Private Equity Connect. 

Truven provides information, industry benchmarks and analysis for hospitals, health systems, health plans, government agencies and pharmaceutical companies. The company operates several healthcare brands, including Advantage Suite, Action OI, MarketScan, 100 Top Hospitals, CareDiscovery and Micromedex. Truven maintains a presence throughout the US, and has hubs in Michigan, Colorado, Illinois and North Carolina.  

The company’s management team, led by chief executive officer Mike Boswood, will remain in place, according to a statement. 

Veritas was founded in 1992. The firm, which is headquartered in New York, has been the lead investor in around $15 billion-worth of deals.