Kforce enters into stock purchase agreement to sell its health information management segment
Kforce Healthcare, Inc. is the operating subsidiary for Kforce's Health Information Management segment. Kforce expects the transaction to close by the end of today. Kforce Healthcare, Inc. will be rebranded himagine solutions, inc.
David L. Dunkel, Kforce Chairman and CEO commented, "Health Information Management has been a successful part of our business for some time, and we are proud of all they have accomplished on their way to becoming one of the leaders in the space. As we assessed our investment strategy to simplify our business model and narrow our focus on our core businesses, we have decided to deepen our focus on our core Technology and Finance & Accounting businesses, both in the commercial space and through Kforce Government Solutions, our unique government vertical. We are excited for our Health Information Management associates and believe that the healthcare focus of Beecken Petty O'Keefe & Company will offer significant opportunities for professional growth.
"We remain committed to creating shareholder value and expect use of proceeds from this transaction to be consistent with our past strategies, including significant share repurchases, pay down of debt and potential acquisitions aligned with our core business lines."
Robert W. Baird and Company is acting as advisor to Kforce Inc. on this transaction.