TransUnion completes sale of TransUnion Healthcare to
CHICAGO, December 17, 2021 (GLOBE NEWSWIRE) – TransUnion (NYSE: TRU) today announced that it has completed the sale of TransUnion Healthcare, Inc. (“TransUnion Healthcare”) to nThrive, Inc. (“nThrive”), a Leading Healthcare Revenue Cycle Management (“RCM”) (“SaaS”) software platform supported by Clearlake Capital Group, LP (with certain affiliates, “Clearlake”), for $ 1.735 billion in cash .
The transaction is expected to generate after-tax proceeds of approximately $ 1.4 billion at current tax rates.
TransUnion Healthcare provides nThrive with powerful healthcare data and analytics capabilities that enable simple, efficient and accurate end-to-end RCM results for healthcare providers and payers.
“The complementary nature of the solutions from nThrive and TransUnion Healthcare, as well as Clearlake’s particular focus in healthcare technology, make it a fascinating and exciting combination. We look forward to an ongoing and productive relationship with nThrive, ”said Chris Cartwright, President and CEO of TransUnion. “With this completed divestiture, TransUnion further strengthens its focus on providing credit, marketing and fraud mitigation solutions to help businesses and consumers conduct their transactions with greater certainty. “
Centerview Partners LLC acted as principal financial advisor to TransUnion. Latham & Watkins LLP acted as legal counsel to TransUnion.
About TransUnion (NYSE: TRU)
TransUnion is a global information and analytics company that makes trust in the modern economy possible. To do this, we provide a workable image of each person so that they can be reliably represented in the market. As a result, businesses and consumers can transact with confidence and achieve great things. We call it Information for Good.®
With a leading presence in more than 30 countries on five continents, TransUnion provides solutions that help create business opportunities, great experiences and personal empowerment for hundreds of millions of people.
TransUnion forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion management and are subject to important risks and uncertainties. Actual results may differ materially from those described in forward-looking statements. All statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information about possible or suspected future operating results, including our advice and descriptions of our business plans and strategies. These statements often include words such as “anticipate”, “expect”, “direction”, “suggest”, “plan”, “believe”, “intend”, “estimate”, “target” , “Project”, “should,” could “,” would “,” could “,” will “,” foresee “,” prospect “,” potential “,” continue “,” seek “,” predict “, or the negative of these words and other similar words expressions.
Factors that could cause TransUnion’s actual results to differ materially from those described in forward-looking statements include: effects of the COVID-19 pandemic and timing of recovery from the COVID-19 pandemic; the possibility that the expected benefits of the TransUnion Healthcare divestiture may not materialize, or may not materialize within the expected time frame; the impact of the sale of TransUnion Healthcare on TransUnion’s business; risks associated with the distraction of management from ongoing business operations and other opportunities as a result of the divestiture of TransUnion Healthcare; business interruption related to the sale of TransUnion Healthcare; the effects of current and future legislation as well as regulatory actions and reforms; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets and other macroeconomic factors beyond the control of TransUnion; risks associated with TransUnion’s indebtedness, including TransUnion’s ability to make timely payments of principal and interest and TransUnion’s ability to comply with covenants in agreements governing its indebtedness; and other one-off events and other factors that can be found in TransUnion’s annual report on Form 10-K for the year ended December 31, 2020, and any subsequent quarterly reports on Form 10-Q or the current report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on the TransUnion website (www.transunion.com/tru) and on the Securities and Exchange Commission website (www.sec .gov). Many of these factors are beyond our control. The forward-looking statements contained in this press release speak only as of the date of this press release. We do not undertake to publicly disclose the result of any revision of these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.
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