Unisys Reaches Agreement to Sell Health Information Management Business to Molina Healthcare
BLUE BELL, Pa. – Unisys Corporation (NYSE: UIS) announced today that it has signed an agreement to sell its health information management (HIM) business to Molina Healthcare, Inc. for approximately $135 million in cash.
The Unisys HIM business provides system solutions and business process outsourcing services to state governments for administration of their Medicaid and other state health care entitlement programs. The business currently has contracts with the states of Louisiana, New Jersey, West Virginia, Idaho and Maine. It also provides drug rebate administration services for the Florida Medicaid program.
The transaction is expected to close in the first half of 2010 and is subject to customary regulatory approvals and closing conditions, including receipt of customer consents.
The Unisys HIM business represents approximately $110 million in annual revenue.
Any statements contained in this press release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, any statements of the Company’s plans, strategies or objectives for future operations; statements regarding future economic conditions or performance; and any statements of belief or expectation. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. In particular, because the transaction is subject to regulatory approvals and other closing conditions, there can be no assurance that it will close when expected or at all. In addition, the purchase price is subject to a working capital adjustment. A discussion of factors that could affect Unisys future results is contained in its periodic filings with the SEC.
Unisys is a worldwide information technology company. We provide a portfolio of IT services, software, and technology that solves critical problems for clients. We specialize in helping clients secure their operations, increase the efficiency and utilization of their data centers, enhance support to their end users and constituents, and modernize their enterprise applications. To provide these services and solutions, we bring together offerings and capabilities in outsourcing services, systems integration and consulting services, infrastructure services, maintenance services, and high-end server technology. With more than 26,000 employees, Unisys serves commercial organizations and government agencies throughout the world. For more information, visit www.unisys.com.
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