The New York-based company will use the proceeds to invest in its core markets including legal, tax and accounting, science and intellectual property, financial services, and media, according to a statement from CEO Thomas Glocer.
Thomson Reuters' health care business includes provider clinical decision support such as Micromedex, clinical benchmarking and regulatory reporting, data analytics including the MarketScan research databases, payer fraud and abuse management and cost control applications, and the Medical Episode Grouper methodology to enable government agencies to evaluate provider performance.
The health care unit had revenue of approximately $450 million in 2010 and an operating margin of around 19 percent, according to the company. Morgan Stanley and Allen & Company are acting as financial advisors. Thomson Reuters expects the divestiture to close by the end of 2011.
This story originally appeared on Health Data Management.
Joseph Goedert is news editor at Health Data Management.