The Business Standard newspaper cited sources close to the development as saying India's No. 2 outsourcer was the front-runner for the business and an announcement was expected shortly.
Both news and information provider Thomson Reuters and Infosys declined to comment.
Thomson Reuters said in June it planned to sell the unit, which supplies healthcare data and analysis to companies, government agencies and health professionals.
The business had revenue of about $450 million in 2010.
"It's public knowledge that we are selling the healthcare division but we're not making any comment on the process," a Thomson Reuters spokesman in London said.
If the deal goes through, it would be the Indian company's biggest acquisition. Infosys shares ended 2.5 percent higher on a strong day for software stocks .BSEIT on Thursday.
"We do not comment on market rumors or speculation," Infosys Executive Co-Chairman Kris Gopalakrishnan said on the sidelines of the World Economic Forum in the northeastern Chinese city or Dalian.
Reporting by Tony Munroe in Mumbai and Lee Chyen Yee in Dalian, China; Editing by Anshuman Daga