HLTH Corp. said it has entered into a definitive agreement to sell its Porex Corp. business to Aurora Capital Group for $142 million. The deal, which is set to close in the fourth quarter, is subject to customary closing conditions.
The deal includes $74.5 million in cash and $67.5 million in senior secured debt, which will be secured by the assets of Porex. HLTH, which has been trying to unload Porex so it can complete its merger with WebMD Corp., said in a news release that it has been listing the business unit as discontinued operations in financial statements.
Los Angeles-based Aurora Capital is a private equity firm.