NDCHealth Completes Sale of German Operations
07 Junho 2005 - 10:45AM
PR Newswire (US)
NDCHealth Completes Sale of German Operations Company Also Reaches
Settlement with IRS ATLANTA, June 7 /PRNewswire-FirstCall/ --
NDCHealth Corporation (NYSE:NDC), a leading U.S. provider of
healthcare technology and information solutions, today announced
the sale of NDCHealth Holdings GmbH, the holding company for its
German information management operations, to the 49% minority
stockholder and former owner of this business. Net cash proceeds
from the sale will be used to pay down senior debt. NDCHealth will
incur a loss from the sale of approximately $7.4 million, or $0.21
per diluted share, which will be reflected in discontinued
operations in the fiscal fourth quarter ended May 27, 2005. The
company's debt balance, following application of net cash proceeds,
will be approximately $260 million. "This transaction completes our
plans to divest non-core assets in order to focus NDCHealth on the
best U.S. market opportunities," said Walter Hoff, chairman and
CEO, NDCHealth. "We enjoy very strong competitive positions in four
key sectors of the U.S. healthcare industry, and we look forward to
leveraging our recently released products and services to deliver
future growth for NDCHealth." Separately, the company announced
that the Internal Revenue Service (IRS) agreed to NDCHealth's
settlement offer related to an IRS audit of a claimed deduction
from a divestiture in the company's fiscal year 2001 consolidated
federal income tax return. As a result of the settlement, NDCHealth
expects to record a $3.7 million tax benefit, or $0.10 per diluted
share, in its fourth quarter of fiscal 2005 related to the reversal
of a tax reserve. This benefit will be reflected as part of the
company's discontinued operations. About NDCHealth NDCHealth is a
leading information solutions company serving all sectors of
healthcare. Its network solutions have long been among the nation's
leading, automating the exchange of information among pharmacies,
payers, hospitals and physicians. Its systems and information
management solutions help improve operational efficiencies and
business decision making for providers, retail pharmacy and
pharmaceutical manufacturers. Headquartered at Atlanta, Ga.,
NDCHealth provides information vital to the delivery of healthcare
every day. For more information, visit http://www.ndchealth.com/ .
DATASOURCE: NDCHealth Corporation CONTACT: Robert Borchert, VP,
Investor Relations of NDCHealth Corporation, +1-404-728-2906, or
Web site: http://www.ndchealth.com/
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