Mercer Consulting Group, a health care consulting company, has reached a multi-year agreement with U.S. President Donald Trump to sell its healthcare and medical technology services business to a private equity firm, according to a report from the Wall Street Journal.
The deal will be announced in the coming weeks, the Journal reported, citing people familiar with the matter.
The Journal reported that Mercer is seeking a buyer with a valuation of about $1.5 billion.
The company, which has an annual revenue of about 50 million euros, is one of the largest private equity firms in Europe, with operations in Belgium, Germany, Luxembourg, Norway and Spain.
In a statement, Mercer said the sale of its business to the private equity group would allow the company to “focus on its core business of building high-quality, innovative health care solutions.”
It added that the new company would focus on the “future of health care.”
Mercer has been trying to develop a health technology platform that would help doctors manage their patients’ medical histories and improve their care.
A spokesperson for Trump said he was “very happy” about the deal.
He also said that the president has “high confidence” that Merced will deliver on its promises to the U.N. to address the Zika virus.
In December, the Trump administration ordered Mercer to conduct an assessment of its ability to deliver on a promise to improve access to care for the millions of Americans living with the virus.
Trump has been critical of the U of M’s efforts to combat the spread of the virus and has repeatedly criticized the school’s efforts.
“We’ve got to do better,” he told students last month.
“It’s not just a matter of, ‘Oh, Merced, you’re doing so well.’
The fact of the matter is we’ve got a lot of problems in our country.
We’re not doing well.
I want to fix it.”