Allegiant Physician Services announced a letter of intent to sell its contract anesthesia business, once its core activity, for $16 million to $25 million.
The sale, to a new company to be formed by Douglas R. Colkitt, M.D., is expected to be completed in the current quarter. Atlanta-based Allegiant, which changed its name from Premier Anesthesia in late 1994, said the sale will allow it to focus on managing primary-care physicians and developing software to track operating room procedures.
Colkitt owns or controls several physician management companies and firms involved in medical software development, medical and legal transcription, telemarketing and general financial support systems, according to a news release. He is chairman of the board of Tucker, Ga.-based EquiVision and Sparks, Nev.-based National Medical Financial Services Corp., both public companies.