Dutch information group Wolters Kluwer (AMS:WKL) has agreed to dispose of its pharma-related Healthcare Analytics unit to US private equity firm Symphony Technology Group LLC (STG), as part of a plan announced last July to shed its pharma-related assets.
The financial terms of the deal were not disclosed.
Following this divestment, Wolters Kluwer will concentrate on its core health markets and will work to step up growth via offering of innovative solutions to clinicians globally, its chief executive and chairman Nancy McKinstry said.
On the other hand, the technology and analytics expertise as well as the commitment to the pharmaceutical sector of STG’s portfolio companies recommended the buyout group as the perfect owner for Healthcare Analytics, Wolters Kluwer Health’s CEO and president, Bob Becker, said.
As agreed with the buyer, Wolters Kluwer will keep a minority stake in the new entity created by STG after buying Healthcare Analytics, the Dutch firm said.
The sold business provides comprehensive patient and physician-level prescription and usage data to the pharmaceutical sector, while the companies in STG’s portfolio capture high-value data around physicians’ treatment decisions in response to pharmaceutical promotion.
Wolters Kluwer, offering information-enabled tools and software to professionals in the legal, business, tax, accounting, finance, audit, risk, compliance and the healthcare sectors, has more than 18,500 employees in over 40 countries in Europe, North America, Asia Pacific and Latin America. Last year it made revenues of EUR3.4bn (USD2.7bn).