Managed Care Law Weekly
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Business Update
HMS Holdings Corp. announces sale of Accordis
October 9th, 2005
HMS Holdings Corp. (HMSY) announced that it has completed the sale of its wholly owned subsidiary Accordis, Inc., to Accordis Holding Corp., a New York-based private company, for $8 million consisting of cash and an interest-bearing 5-year promissory note. The company also entered into a 3-year agreement to provide data processing and other transition services to Accordis that is expected to yield an additional $8.5 million. The transaction is effective August 31, 2005, and is subject to certain postclosing purchase price adjustments. The sale of Accordis completes the disposition of the company's business of providing medical claiming services to...
Source: Managed Care Law Weekly (2005-10-09)
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