Veritas Capital has closed its $1.25 billion buy of Thomson Reuters healthcare business. The company will be called Truven Health Analytics. Truven, according to a statment, is a combination of ‘truth’ and ‘proven.’ Truven employs about 2,200 people globally.
The previously announced $1.25 billion sale of the Thomson Reuters Healthcare business to an affiliate of Veritas Capital was completed today. The company’s many well-known brands, established in more than 30 years of leadership in the healthcare industry, include Advantage Suite®, Action OI®, MarketScan®, 100 Top Hospitals®, CareDiscoveryTM, and Micromedex®.
The newly independent company will be known as Truven Health Analytics, a name based on the words ‘truth’ and ‘proven’, that speaks to the strength of its offerings, expertise, and people.
“Truven Health Analytics is the industry’s leading provider of trusted and unbiased healthcare information, analytic tools, and benchmarks,” said Robert McKeon, chairman of Veritas Capital. “Their solutions sit at the center of virtually every major healthcare challenge currently confronting hospitals, employers, federal and state governments, pharmaceutical companies, and health plans. We look forward to working with the management team and employees to build upon the strong foundation in place to continue delivering value to our customers.”
Truven Health Analytics provides data, analytics, and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies, and pharmaceutical companies. With leading assets and solutions coupled with expert services and analysis, Truven Health Analytics provides its customers with solutions to identify savings, improve outcomes, detect fraud, and more efficiently manage their healthcare operations.
Truven Health Analytics is uniquely positioned to address the industry’s convergent healthcare trends, including the increased use of benchmarks to assess quality care, implementation of health information exchanges and other electronic data initiatives spurred by healthcare reform, more rigorous investigations of healthcare waste and abuse, and the development of population health programs among hospitals, health plans, and large employers.
“The healthcare industry is constantly striving for higher quality and improved efficiency, and our new partnership with Veritas Capital will help us harness the power of our world class team to tackle some of the industry’s biggest challenges,” said Mike Boswood, president and CEO of Truven Health Analytics. “We’re eager to realize the potential that our future holds.”
Truven Health Analytics employs approximately 2,200 people worldwide and has its principal offices in Ann Arbor, Chicago and Denver.
About Veritas Capital
Founded in 1992 and headquartered in New York, Veritas Capital is a leading private equity 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 $15 billion in value.
About Truven Health Analytics:
Truven Health Analytics delivers unbiased information, analytic tools, benchmarks and services to the healthcare industry. Hospitals, government agencies, employers, health plans, clinicians, and pharmaceutical companies have relied on its solutions for over 30 years. Truven Health Analytics combines deep clinical, financial and healthcare management expertise with innovative technology platforms and information assets to make healthcare better, collaborating with customers to uncover and realize opportunities for improving quality, efficiency, and outcomes. For more information, please visit www.truvenhealth.com.