Molina Healthcare to acquire Unisys HIM business

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. 

Source: Unisys Corporation