TransUnion Completes Sale of TransUnion Healthcare to nThrive for $1.7 Billion
TransUnion (NYSE: TRU) announced today that it completed the sale of TransUnion Healthcare, Inc. (“TransUnion Healthcare”) to nThrive, Inc. (“nThrive”), a leading healthcare revenue cycle management (“RCM”) software-as-a-service (“SaaS”) platform backed by Clearlake Capital Group, L.P. (together with certain affiliates, “Clearlake”), for $1.735 billion in cash.
The transaction is expected to result in approximately $1.4 billion in after-tax proceeds 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 outcomes for healthcare providers and payers.
“The complementary nature of nThrive’s and TransUnion Healthcare’s solutions, as well as Clearlake’s dedicated focus in healthcare technology, make this a compelling and exciting combination. We look forward to a productive ongoing relationship with nThrive,” said Chris Cartwright, President and CEO of TransUnion. “With this divestiture completed, TransUnion further tightens our focus on providing credit, marketing and fraud mitigation solutions to help businesses and consumers transact with greater certainty.”
Centerview Partners LLC acted as lead financial advisor to TransUnion. Latham & Watkins LLP served as legal advisor to TransUnion.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.®
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, 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’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any 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 concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negative of these words and other similar expressions.
Factors that could cause TransUnion’s actual results to differ materially from those described in the forward-looking statements include: the effects of the COVID-19 pandemic and the timing of the recovery from the COVID-19 pandemic; the possibility that the expected benefits of the TransUnion Healthcare divestiture will not be realized, or will not be realized within the expected time period; the impact of the TransUnion Healthcare divestiture on TransUnion’s businesses; risks related to the distraction of management from ongoing business operations and other opportunities due to the TransUnion Healthcare divestiture; business disruption related to the TransUnion Healthcare divestiture; the effects of pending and future legislation and 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 TransUnion’s control; risks related to TransUnion’s indebtedness, including TransUnion’s ability to make timely payments of principal and interest and TransUnion’s ability to satisfy covenants in the agreements governing its indebtedness; and other one-time 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 Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnion’s website (www.transunion.com/tru) and on the Securities and Exchange Commission’s 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 undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.