Navient Agrees To Sell Its Healthcare Services Business To CorroHealth For $365M Cash Consideration
Portfolio Pulse from Benzinga Newsdesk
Navient has agreed to sell its Healthcare Services business to CorroHealth for $365 million in cash. Approximately 950 employees will join CorroHealth. The transaction is expected to close by the end of September, subject to certain conditions. The net gain from the sale and the final financial statement impact are yet to be determined.
August 13, 2024 | 8:23 pm
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Navient is selling its Healthcare Services business to CorroHealth for $365 million in cash. The transaction is expected to close by the end of September, and approximately 950 employees will join CorroHealth. The net gain from the sale and the final financial statement impact are yet to be determined.
The sale of the Healthcare Services business for $365 million in cash is a significant transaction for Navient. It will likely have a positive short-term impact on NAVI's stock price due to the substantial cash inflow and the strategic refocus of the company. However, the final financial impact is still uncertain, which introduces some risk.
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