Thomson Reuters to sell healthcare business

Markets Reuters

WASHINGTON (Reuters) - News and information provider Thomson Reuters Corp <TRI.N> <TRI.TO> said it plans to sell a unit that supplies healthcare data and analysis to companies, government agencies and health professionals.

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The sale of the business, which had revenue of about $450 million in 2010, is not expected to have a material impact on the company's previously announced 2011 outlook, Thomson Reuters said in a statement on Monday.

"We believe we will achieve better all-in returns for our shareholders by divesting the Healthcare business and re-deploying the proceeds in our core franchises," Chief Executive Thomas Glocer said.

Thomson Reuters provides news and information to financial, legal, accounting and healthcare professionals.

The company said it expects the sale of the healthcare unit, part of its healthcare & science business, to close before year-end. Morgan Stanley <MS.N> and Allen & Co are financial advisers for the planned sale.

The divestiture will result in a realignment of the company's existing intellectual property and science businesses into a single operating unit, Thomson Reuters said.

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Thomson Reuters shares closed down 0.35 percent at C$36.94 in Toronto and down 0.61 percent at $37.60 in New York.

(Reporting by Lisa Richwine; Editing by Ted Kerr)