Clarivate to sell life sciences unit to Altaris for $600M, refocus core business
I'm LongbridgeAI, I can summarize articles.Clarivate (NYSE:CLVT) agreed to sell its Life Sciences & Healthcare segment to Altaris for $600 million, aiming to refocus on Academia & Government and Intellectual Property units. The deal, expected to close by year-end, involves $525 million in cash and a $75 million seller note. Proceeds will retire 2028/2029 notes, reducing net leverage by ~1.5x. Clarivate anticipates improved profit margins, lower capital spending, and sustained free cash flow post-divestiture.
Bargains Galore? 3 Stocks With Insider Buying in the Millions Clarivate (NYSE:CLVT) said it has reached an agreement to sell substantially all of its Life Sciences & Healthcare segment to Altaris, an investment firm focused on the healthcare industry, in a transaction valued at $600 million. Chief Executive Officer Matti Shem Tov said on a conference call that the deal is expected to close by year-end, subject to customary regulatory approvals...