LONDON (Reuters) – British credit data provider Experian said it would buy U.S. healthcare data firm Passport Health Communications for $850 million (528 million pounds), continuing its drive to expand internationally and invest in new products.
Experian, best known for running consumer credit checks for banks, landlords and retailers, reported a 2 percent rise in first-half pretax profit to $573 million. Revenue from continuing businesses rose 6 percent.
Chief Executive Don Robert said he expects organic revenue growth to be in a similar range as in the first half, with a slim margin improvement in the full year.
Experian first entered the U.S. healthcare payments market five years ago and has steadily expanded its position through investment and acquisition.
The purchase is subject to regulatory approval and will be funded from Experian’s current bank facilities, it said.
Experian is paying an interim dividend of 11.5 cents per share, up 7 percent.
Shares in the FTSE 100 company, which have risen by 28 percent since the start of the year, closed on Tuesday at 1,255 pence, valuing the business at 12.6 billion pounds.
(Reporting by Matt Scuffham; Editing by Louise Heavens)
Experian buys U.S. healthcare data firm for $850 million
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