MedAvant Healthcare Solutions (MedAvant) (NASDAQ: PILL) and Coalition America, Inc. today announced they have entered into a definitive agreement to sell MedAvant’s National Preferred Provider Network to Coalition America, Inc. for $23.5 million in cash.
The divestiture allows MedAvant to pay down its debt while focusing on its core strength, its real-time technology. The Company moving forward will consist of its electronic data interchange and laboratory communications business lines. The Company’s product and service offerings will focus on data analytics and business intelligence solutions for the healthcare industry.