Thomson Reuters has put the planned sale of its healthcare business on ice. The business information group originally announced the divestiture last June, but says that it has now suspended the process as global economic conditions have grown more challenging over recent months. “The company believes that they are not conducive to concluding a transaction that reflects the fair value of the healthcare business at this time,” it stated.
Thomson Reuters added that it will now continue to invest in and expand the healthcare business until such time as the sell-off can be completed at more favourable terms. It confirmed that the division “continues to perform well with strong revenue growth and expanding margins”, while its results would continue to be included within “Other Businesses” in the group’s financial statements.
Before the market volatility of last summer, analysts had suggested that the sale of the healthcare business could yield $1bn or more.