Document Management

Thomson Reuters has agreed to sell its healthcare business to Veritas Capital, a private equity firm, for $1.25 billion in cash. The deal would consummate a plan by Thomson that had been stalled last fall when the company decided market conditions were not right for getting an adequate price for the healthcare business.

The healthcare operations provide data, analytics and other services to hospitals, government agencies and healthcare professionals. The deal is expected to close in the next few months. Veritas describes its investments as focusing companies that provide critical products and services to governments and commercial customers.

It marks the second exit from healthcare in the last six months by a company with important tax and accounting operations. Sage sold its healthcare operations to Vista Equity Partners in November for $320 million. The Thomson sale would leave CCH's parent Wolters Kluwer the only one of the major tax and accounting players to remain in healthcare.