British Credit Company Experian Acquires Healthcare Data Firm Passport Health Communications For $850 Million
Experian is a British credit data company that has decided to suspend their $500 million share buyback program after deciding to buy U.S. healthcare data firm Passport Health Communications for $850 million. Experian acquired U.S. fraud detection firm 41st Parameter last month for $324 million. Experian got into the healthcare payment market five years ago and has expanded since then. Experian also bought back $322 million in shares from investors at the end of September. Experian is well known for running consumer credit checks for banks, landlords, and retailers. Experian plans on funding the acquisition through existing debt facilities.