The History of Truven Health Analytics: What to Know

Truven Health Analytics (THA) was a company specializing in data collection and analysis for the healthcare industry. Their data collections included information to benefit many aspects of medical care such as hospital management, patient care, health insurance, and pharmaceutical research. The primary goals of the company were to use healthcare data to increase organizational efficiency and positive patient outcomes.

The organization began as the health division of the Thomson Corporation, an information company based in Connecticut. THA became an independent company after its purchase by Veritas Capital in 2012.

Quick Facts

Year Founded
2012
Founders
Veritas Capital
Industry
Healthcare data analysis
Headquarter
Ann Arbor, MI
Key People
Mike Boswood
Notable Products
Research databases, Truven Health Micromedex
Website
https://www.ibm.com/watson-health/about/truven-health-analytics

The company continued to offer healthcare analysis services until it was acquired by IBM in 2016. At that time, the technology company merged Truven’s healthcare data resource with its Watson Health division.

The Founding of Truven Health Analytics: How It Happened

The healthcare industry is a data-rich environment. Every medical study generates information that can benefit patients down the line. Although data analysis has been around for decades, improvements in computer processing power in the early 2000s made it financially viable to analyze large data sets, making unexpected connections across departments. This healthcare analysis aided medical facilities in balancing patient care and operating costs.

The health division of Thomson Corporation was at the forefront of this effort. While physicians may know this company best for reference works like its “Physician’s Desk Reference,” the company was also developing digital tools for diagnosis and treatment.

After a merger with Reuters in 2008, the new Thomson Reuters company began to focus on business information. It sold the healthcare division to Veritas Capital in 2012. In that year, THA emerged as an independent entity.

healthcare analytics
Truven Healthcare Analytics allowed medical facilities to increase efficiency.

Truven Health Analytics Through the Years

2012-2016

In 2012, Truven ceased to be a branch of Thomson Reuters. As a solo company, it could focus all its attention on healthcare analysis and information products. Truven divided its efforts into two areas: data collection and analytic services.

Micromedex is one of the lasting products that came from data collection efforts. This resource is a collection of databases that provide comprehensive information about medical conditions and health management. Physicians and pharmacists can use this tool to avoid side effects and dangerous drug interactions.

The other branch of THA involved helping hospitals and other medical facilities benefit from the analysis of big data. A health facility might gain information about its own operations compared with industry norms. These insights led to higher efficiency and improved patient care.

2016 to the Present

In 2016, IBM purchased the data resources of Truven Health Analytics. Today, the information exists as part of the Watson Health Division of IBM.

What are the most important products from Truven Health Analytics

Truven Health Analytics databases are standard collections for the medical field. Healthcare data resources like DISEASEDEX, DRUGDEX, and DRUG-REAX give doctors searchable tools for diagnosis and treatment options. Most of these databases are now gathered together in the Micromedex product.

How Did Truven Health Analytics Make Money?

Truven Health Analytics made money in two ways. First, they licensed their databases to large healthcare organizations. The second income stream was service-oriented. The company provided resources to gather and interpret healthcare data. Medical facilities used their services to improve patient care and operational performance. Health insurance companies worked with them to carry out predictive analyses.

Truven Health Analytics Acquisitions

Veritas Capital

In 2012, Veritas Capital purchased the Thomson Reuters health division to form Truven Health Analytics. The cost of this deal was $1.25 billion.

IBM

IBM purchased Truven Health Analytics for $2.6 billion in 2016. At this point, Truven ceased to exist and became part of the Watson Health Division.

Truven Health Analytics: Complete Guide – History, Services, Founding, and More FAQs (Frequently Asked Questions) 

When was Truven Health Analytics founded?

Although its founding company, the Thomson Corporation, had been around since 1989, Truven Health Analytics did not become a separate entity until 2012.

Who founded Truven Health Analytics?

The company came into being after the purchase of the Thomson Reuters health division in 2012. The name Truven is a combination of “trusted” and “proven.”

What is Truven Health Analytics known for?

Truven Health Analytics is primarily known for its comprehensive healthcare information resources. The Micromedex database collection holds searchable information about pharmaceuticals, diseases, and treatments.

How big is the Truven Health Analytics company?

At its height, Truven Health Analytics had about 2,500 employees.

What did Truven Health Analytics do?

Truven Health Analytics focused on data collection and healthcare analysis. Truven databases like DISEASEDEX and DRUGDEX were searchable reference tools to aid in diagnosis and treatment. They were part of Micromedex, a comprehensive information tool.

The healthcare analysis side of Truven involved working with health plans and institutions to improve efficiency and patient outcomes. Truven used its big data resources to examine current performance levels and propose an optimization strategy.

Who owns Truven Health Analytics?

IBM acquired Truven Health Analytics in 2016 for $2.6 billion. The Truven databases are now accessible through the Watson Health Division of IBM.

What is Truven data?

Truven healthcare data covers a wide range of information. The company gathered information about medical research and facility operations and collected data from over 240 million insurance claims.

What is Truven Health Micromedex?

Micromedex is a collection of health-related databases created by Truven Health Analytics and owned by IBM. It includes information about diseases, medical devices, research results, and pharmaceuticals. Medical facilities use this data to prevent drug interactions and optimize patient outcomes.

What are health analytics?

Health analytics involves examining healthcare data to look at the most effective treatments and practices in an individual situation. Performing such healthcare analysis on big data resources helps medical facilities make informed decisions on operations and patient care.

  • Available here: https://en.wikipedia.org/wiki/Truven_Health_Analytics
  • Available here: https://www.ibm.com/watson-health/about/truven-health-analytics
  • Available here: https://www.reuters.com/article/us-truven-m-a-ibm/ibm-to-acquire-truven-health-analytics-for-2-6-billion-idUSKCN0VR1SS
  • Available here: https://www.techknowledge.me/files/theme/KC/Truven/TRUVEN.pdf
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