Altaris closes $600M Clarivate life sciences deal

Altaris has completed its acquisition of Clarivate’s Life Sciences & Healthcare business, closing a $600 million divestiture that Clarivate said was first announced on July 6, 2026. The business will operate as an independent company under Altaris ownership, and Henry Levy will continue as CEO.

Clarivate said the sold business is headquartered in Pennsylvania and will be rebranded in due course. It described the unit as an AI-enabled data intelligence platform serving pharmaceutical, biotechnology and medical technology companies. The company said the segment has about 2,300 employees across 22 countries and counts among its customers the top 20 pharmaceutical companies and 18 of the top 20 medical technology companies.

What did Altaris buy?

Altaris bought Clarivate’s Life Sciences & Healthcare business, which Altaris said consists of two units: Cortellis and Decision Resources Group (DRG). Clarivate said Cortellis provides insights across drug development, regulatory and safety use cases, while DRG offers data-driven products and consulting services focused on commercialization and market access strategies.

Altaris said J.P. Morgan Securities LLC served as its exclusive financial advisor and Kirkland & Ellis LLP was its legal counsel on the acquisition. The firm also said it has invested in more than 50 companies since its inception in 2003 and manages $10 billion of equity capital.

Clarivate said Morgan Stanley was its financial advisor and Davis Polk & Wardwell LLP its legal advisor.

How was the $600 million deal structured?

Clarivate said it completed the sale to an affiliate of Altaris, LLC for an aggregate purchase price of $600 million. In a Form 8-K, Clarivate said the closing consideration included $500 million in cash, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses, plus $25 million deferred until completion of a transition services agreement and payment milestones, but no later than January 31, 2028.

The filing also said an affiliate of the buyer issued a $75 million unsecured senior note to a wholly owned Clarivate subsidiary at closing. Clarivate said the July 3, 2026 purchase agreement identified the counterparties as Janus Buyer, LP, Camelot UK Bidco Limited, Clarivate Analytics (UK) Limited and Camelot U.S. Acquisition LLC.

Clarivate said it expects to file unaudited pro forma financial statements reflecting the transaction by October 13, 2026.

What does Clarivate plan to do next?

Clarivate said the sale advances its transformation and simplifies its portfolio. After the divestiture, the company said it is now a more focused, subscription-first provider of proprietary data, authoritative content, AI-powered intelligence solutions, embedded workflow software and tech-enabled services.

The remaining company is centered on two segments: Academia & Government and Intellectual Property. Clarivate said Academia & Government includes Web of Science, ProQuest, Alma and Vega, and serves universities, research institutions, libraries, governments and funders with intelligence, workflow solutions and services. Its Intellectual Property segment includes IPOne, Derwent, CompuMark, IPfolio and other IP solutions that help organizations create, protect and commercialize IP.

Clarivate said the two remaining segments are underpinned by proprietary content, workflow software and expanding AI capabilities. CEO Matti Shem Tov said the company is now centered on two market-leading segments with recurring revenue, deep customer relationships and AI-driven innovation opportunities, while CFO Michael Easton said the stronger balance sheet is intended to support investment in innovation, customer support, growth and shareholder value.

Clarivate said it intends to use the sale proceeds to reduce debt and strengthen its balance sheet while enhancing strategic and financial flexibility. It also said the divestiture supports efforts to improve revenue quality, expand profitability and increase focus on long-term value creation.

Clarivate said it will report third-quarter 2026 results on November 3, 2026 and update full-year guidance to reflect the divestiture.