Conduent agrees to sell Casualty Claims Solutions to MedRisk for $240M cash

CONDUENT Inc

Sale price of $240M cash represents ~9.5x adjusted EBITDA of the disposed business.
Transaction expected to close in Q3 2024, subject to regulatory approvals and conditions.
Also voluntarily prepaid $164M of Senior Secured Term Loan B on May 2, 2024.
Business processed ~29M medical bills in 2023; employees will join MedRisk.

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