Clarivate said it will sell its life sciences and healthcare segment to Altaris for $600 million, a move that leaves the company focused on its academia & government and intellectual property businesses.
Under the deal, Clarivate will receive $500 million in cash at closing, $25 million deferred until completion of a transition services agreement, and a $75 million seller note. The company said it plans to use the cash proceeds to reduce debt.
The company said the sale will sharpen its revenue mix and lower capital intensity. Clarivate also said the transaction is expected to improve margins, and it reaffirmed its full-year 2026 outlook.
For 2026, Clarivate expects revenue of $1.94 billion to $2.04 billion, adjusted EBITDA of $980 million to $1.04 billion, and adjusted EBITDA margin of 42.0% to 43.5%. It also guided to adjusted diluted EPS of $0.70 to $0.80 and free cash flow of $365 million to $435 million.
Clarivate said organic ACV growth is expected to be 2.0% to 3.0%, while recurring organic revenue growth is projected at 0.75% to 2.25%. Revenues including discontinued operations are expected to be $2.30 billion to $2.42 billion.
The company expects to record a non-cash goodwill impairment of about $225 million to $250 million tied to the sale. It said the life sciences and healthcare segment will be classified as discontinued operations starting in the third quarter.
Clarivate expects the transaction to close by year-end. As a result of these announcements, the company's shares have moved -5.21% on the market, and are now trading at a price of $2.455. For the full picture, make sure to review CLARIVATE PLC's 8-K report.
