Thomson Reuters Corp. (the publisher of Buyouts magazine) plans to sell of its health care business, which is part of the New York-based company’s health care and science segment. The health care business provides data, analytics and performance benchmarking solutions and services to companies, government agencies and health care professionals. Some of its brand-name products include MarketScan, Advantage Suite, Micromedex, CareDiscovery and ActionOI. The health care business generated revenue of about $450 million in 2010. Thomson Reuters expects to complete the divestiture by the end of 2011.
SulphCo Inc. continues to pursue strategic alternatives, as it completed another round of layoffs at the end of May that affected the Houston, Texas-based company’s scientific and technical staff. SulphCo, which is down to four employees, has developed an ultrasound process designed to desulfurize liquid petroleum streams. The company is considering the sale of its technology, along with other options. SulphCo estimates that it has enough funds to finance cash requirement only into the early part of July, and said it may have to take more action, including a bankruptcy filing, if it can’t line up new financing.
GeoGlobal Resources Inc.’s board authorized the company’s management to look into strategic alternatives. The Calgary, Canada-based company hired Rodman & Renshaw LLC to help with the review of capital restructuring and financing alternatives. Options could include the sale of stock or assets, a recapitalization, a consolidation of the company, or a joint venture. GeoGlobal Resources is an oil and natural gas company with exploration and development operations in India, Israel and Colombia.
North American Tungsten Corp. Ltd. has formed a special committee to take the lead in the evaluation of opportunities and strategic alternatives for the Canadian company’s wholly owned MacTung Deposit. Ron Erickson, who is the committee’s director and chairman, said in a press release that an expedited path to exploit the potential of MacTung is the company’s key objective. For the fiscal second quarter ended March 31, North American Tungsten posted a loss of $4.4 million. The company said second-quarter production was below plan because of development delays and equipment availability issues.