Veritas Capital completes acquisition of Thomson Reuters Healthcare
The $1.25 billion sale of the Thomson Reuters Healthcare business to an affiliate of Veritas Capital was completed Wednesday. The new company will be knows as Truven Health Analytics.
“Truven is a combination of ‘truth’ and ‘proven,’ and I think the other concept in the name is that of trust. We reviewed hundreds of possibilities but came back to this name that reflects our core values,” said Mike Boswood, Truven’s president and CEO.
Truven Health Analytics employs approximately 2,200 people worldwide and has its principal offices in Ann Arbor, Mich., Chicago and Denver.
The company will retain all its brands, including Advantage Suite, Action OI, MarketScan, 100 Top Hospitals, CareDiscovery and Micromedex.
The transition will be seamless from the client perspective, said Boswood.
“(It’s a) new company with a new name, but it has the same management team and same staff, so I can say with complete conviction that it is the same company in every respect,” said Boswood.
In a press release announcing the rebranding effort, the company said, “Truven Health Analytics provides data, analytics and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies and pharmaceutical companies.”
Data analytics can help customers contain costs, improve outcomes, detect fraud and streamline operational practices, said Boswood.
“We are extremely good at data aggregation and the need for the ability to aggregate data in healthcare is only going to grow in importance,” he said.
