Clarivate Dumps Healthcare Unit in $600 Million Deal

Clarivate Plc (NYSE: CLVT ) stock traded higher in Monday’s premarket session after surging 16.67% in Thursday’s regular trading session. The latest gains came after the company announced a $600 million deal to sell its Life Sciences & Healthcare segment to Altaris LLC. The divestiture is expected to sharpen Clarivate’s focus on its Academia & Government and Intellectual Property businesses, improve its financial profile, and support debt reduction. Clarivate Sells Life Sciences & Healthcare Unit Under the agreement, Clarivate will receive $500 million in cash at closing, $25 million upon completion of a transition services agreement, and a $75 million seller note. The company plans to use the cash proceeds to reduce debt. Clarivate said the sale will improve its revenue mix, lower capital intensity, and expand adjusted EBITDA margin. Outlook Reaffirmed, Impairment E...