Clarivate rises on $600 million deal to sell healthcare unit
BUZZ-Clarivate rises on $600 million deal to sell healthcare unit ** Shares of information services provider Clarivate 16A.F rise 5.4% to $2.73 premarket
** Company says it will sell its life sciences and healthcare segment to Altaris, a healthcare-focused investment firm, for $600 million
** The segment provides data and analytics used by drug and medical-device companies from discovery to market launch
** Deal includes $500 million in cash at closing, $25 million after Clarivate finishes certain transition support services for the buyer, and a $75 million seller note
** Transaction is expected to close by year-end
** Company reaffirms 2026 outlook, including revenue of $1.94 billion-$2.04 billion, excluding discontinued operations, and adjusted EPS of 70 cents-80 cents
** As of last close, shares down 22.5% YTD
(Reporting by Kunal Das in Bengaluru)
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