UPDATED: 3 p.m. ET
Thomson Reuters has moved ahead with previously stalled plans to divest its healthcare business, reaching a $1.25 billion deal to sell the business to Veritas Capital.
The news and information company had planned to sell its healthcare business before the end of last year but suspended those plans in December because of poor market conditions. Thomson Reuters' healthcare business markets benchmarking and data analytics to providers, health plans and government agencies.
According to an estimate by Goldman Sachs analyst Brian Karimzad, healthcare accounted for the majority of $891 million in revenue from Thomson Reuters' assets held for sale or disposition last year. Earnings before interest, taxes, depreciation and amortization amounted to $249 million for the same assets, the majority of which Karimzad also attributed to the healthcare business.