Wolverine Healthcare to launch $575 million credit facility on Friday

By Sara Rosenberg

New York, May 9 - Wolverine Healthcare Analytics (formerly Thomson Reuters Healthcare) is scheduled to hold a bank meeting at 10 a.m. ET on Friday in New York to launch a proposed $575 million credit facility, according to a market source.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and UBS Securities LLC are the lead banks on the deal.

The facility consists of a $50 million five-year revolver and a $525 million seven-year term loan B, the source said.

Proceeds will be used to fund the buyout of the company by Veritas Capital for $1.25 billion in cash from Thomson Reuters.

Closing is expected in the next few months, subject to regulatory approval and customary conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.

Wolverine Healthcare is a provider of data, analytics and performance benchmarking services to hospitals, health systems, employers, health plans, government agencies and health care professionals.

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