Altaris to Buy Clarivate Life Sciences Unit for $600 Million
The healthcare-focused buyer completes an asset purchase that lets Clarivate concentrate on Academia & Government and Intellectual Property.
Altaris, LLC, an investment firm focused on acquiring and building healthcare companies, agreed to buy Clarivate Plc’s (CLVT) Life Sciences & Healthcare segment for $600 million in an asset purchase.
The transaction closes a sale process Clarivate opened in February after a strategic review of its portfolio. Clarivate retained Morgan Stanley & Co. LLC as financial advisor and said a potential sale would let it emphasize Academia & Government and Intellectual Property and use proceeds to reduce leverage.
Under the agreement, Clarivate will receive $500 million in cash at closing, $25 million in cash deferred until completion of a transition services agreement, and a $75 million seller note. The company intends to use the cash proceeds to reduce debt. The deal is expected to close by the end of the year, subject to customary closing conditions, including regulatory approvals and the expiration of applicable waiting periods.
Following the close, Clarivate will be a subscription-first provider of intelligence solutions, workflow software and tech-enabled services for its remaining Academia & Government and Intellectual Property segments. Both already benefit from deep customer relationships and shared content assets and technology platforms.
Matti Shem Tov, Chief Executive Officer of Clarivate, said: “This is an important milestone in Clarivate's transformation journey. The successful completion of this transaction further advances our Value Creation Plan by sharpening our focus, simplifying our portfolio, and strengthening our financial profile. We are now positioned as a more focused company centered on two market-leading segments with attractive recurring revenue characteristics, deep customer relationships, and significant opportunities to leverage AI-driven innovation.”
Jonathan Collins, Executive Vice President and Chief Financial Officer, said the divestiture strengthens Clarivate's financial profile and accelerates its debt-reduction plan, and that monetizing the segment will enhance the quality of the revenue mix, lower capital intensity, and improve margins.
Henry Levy, President of Life Sciences & Healthcare at Clarivate, said the segment integrates domain expertise, data assets and analytical capabilities across the drug and device lifecycle, and that under Altaris, the business will be positioned to build on that foundation.
Clarivate reaffirmed its full-year 2026 financial outlook, including Life Sciences & Healthcare results for the full year. Those results will be classified as discontinued operations starting in the third quarter.