The company is in negotiations with several prospective buyers, but all Constellation businesses should operate as usual throughout the sale. Those businesses include:
- Allegiance and Orion Healthcorp, its two RCM businesses;
- Integrated Physician Solutions, which includes both physician practice management and group purchasing capabilities; and
- the holding company for New York Network Management.
“After evaluating a range of possible alternatives, Constellation has determined that our various business divisions will be better positioned for long-term growth and success under new ownership with the financial strength necessary to invest in their offerings and opportunities,” said Constellation Interim CEO Timothy Dragelin. “We are taking decisive action today to give our businesses — and all the people who depend on them — the best possible future.”
Read more articles on healthcare finance:
CHS shares sink on report of restructuring adviser hire: 4 things to know
CHS hires debt advisers: 4 things to know
CEO of Kansas safety-net clinic suspended after audit
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.