Veritas Capital has closed its buy of the healthcare services business of Verisk Analytics Inc. Waltham, Massachusetts-based Verisk Health provides data services, analytics, and advanced technologies that aim to inform smarter business decisions and reduce risk. The $820 million sale was announced in April.
JERSEY CITY, N.J., June 1, 2016 – Verisk Analytics, Inc. (Nasdaq:VRSK), a leading data analytics provider, announced the closing of the sale of its healthcare services business to Veritas Capital. The terms of the sale were as previously announced.
“We are pleased to have completed the divestiture of the healthcare services business, which both represents value creation for our shareholders and allows us to focus on businesses more closely aligned with our strategy, distinctives, and global ambitions. The sale enhances our focus on proprietary data analytics in our key vertical markets,” said Scott Stephenson, chairman, president, and CEO of Verisk Analytics.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, financial services, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 23 countries and is a member of Standard & Poor’s (S&P) 500® Index. In 2015, Forbes magazine named Verisk Analytics to its World’s Most Innovative Companies list and, in 2016, to its America’s Best Large Employers list. Verisk is one of only 15 companies in the United States to appear on both lists. For more information, please visit www.verisk.com.
About Veritas Capital
Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.