MINNEAPOLIS--(BUSINESS WIRE)--Constellation, Inc., today announced the sale of its Health Information Technology (IT) business unit to Med Tech Solutions, (MTS), an information technology and cloud computing company serving U.S. health care companies. Terms of the transaction were not disclosed.
“In seeking a buyer for our Health IT business unit, we sought a company that would continue to serve our Health IT customers and protect the jobs of our employees,” said Bill McDonough, Constellation president and CEO.
“We are delighted that MTS intends to do both. The company is exclusively dedicated to services and solutions for health care customers and is experienced in the electronic medical record applications our customers use,” said McDonough. “In addition, MTS intends to retain the majority of our employees.”
Almost a year ago, Constellation announced plans to sell its Health IT unit to JDL Technologies. After several delays and the expiration of JDL’s letter of intent to purchase, Constellation announced it would consider other buyers.
The sale of Constellation’s Health IT business comes as the company implements a growth strategy aimed at augmenting its traditional medical liability insurance business with an array of support and risk-management services for health care providers challenged by a changing landscape.
Minneapolis-based Constellation is a holding company of policyholder-owned insurers and other organizations providing medical liability insurance and services that support physicians and other health care providers. Through partnerships offering solutions that help providers deliver better quality patient care, a better patient experience and lower costs of care, Constellation, founded in 2012, aims to become a leader in health care provider support and risk solutions. For more information, visit: www.ConstellationMutual.com.
About Med Tech Solutions
Med Tech Solutions is a leading national health care cloud computing company that works exclusively with payers and providers to provide simple and cost-effective health information technology and cloud solutions. MTS is headquartered in Valencia, CA., with regional offices in St. Louis and Morristown, N.J. For more information, visit: www.medtechsolutions.com.