Emdeon Corp., Elmwood Park, N.J., said it will sell its Emdeon Practice Services unit, which makes medical records and practice-management software, to Sage Software for $565 million in cash in a deal expected to be completed in September.
Emdeon, formerly WebMD, also said it continues to explore strategic alternatives for its business-services unit -- Emdeon's medical-claims clearinghouse -- and expects to make an announcement related to the matter later this month or next month. Sage is part of the North American subsidiary of Sage Group, London. Emdeon also reported second-quarter net income of $23.2 million on revenue of $354.9 million. Emdeon Practice Services had revenue of $77.3 million during the quarter, down from $78.6 million in the year-ago quarter.