Altaris, a healthcare-focused private investment firm that specializes in acquiring and building companies across the healthcare industry, has agreed to acquire the Life Sciences & Healthcare segment of Clarivate for $600 million.
Following the sale, Clarivate will focus exclusively on its subscription-based academia & government and intellectual property businesses, with the cash proceeds earmarked for debt reduction. Clarivate’s LS&H segment provides data, analytics and technology services supporting pharmaceutical, biotechnology and medical device companies throughout the drug and device lifecycle, from discovery and development to commercialization and market access. The business combines proprietary data assets, deep industry expertise and analytical capabilities to help customers make critical research, development and market access decisions.
Morgan Stanley is serving as financial advisor to Clarivate, while Davis Polk & Wardwell and Hogan Lovells are acting as legal advisors. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor.