According to a statement by British credit data provider Experian, it would be acquiring Passport Health Communications. The acquisition deal was valued at USD850 million. The UK global information services group's latest acquisition would have Experian expand its reach in the international market and invest in emerging markets.
Experian was not a neophyte in the healthcare market, Reuters said. It had entered into healthcare payments five years ago and grew its footprint via additional investments and acquisitions.
The acquisition would be funded by Experian through its current banking facilities, the company said. The acquisition of the US healthcare data firm would be subject to regulatory approval.
Experian recorded a 2% increase in pretax profit to USD573 million in the first six months of the year. Its existing businesses had contributed a 6% growth to the company's revenue. Currently, the company pays an 11.5 cents per share dividend, which is a 7% increase. Experian's market valuation rose to GBP12.6 billion after shares increased 28% in share price since the beginning of the year.
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