Advocate Aurora Health, now part of Advocate Health, is selling remote patient monitoring company MobileHelp two years after acquiring it.
The sale is expected to close later this year, according to a financial report made available on Tuesday. The report did not share details on the buyer.
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Downers Grove, Illinois-based Advocate Aurora recorded a $150 million asset impairment write-down related to the expected sale, according to the report.
In March, Advocate Aurora also sold personal care company Senior Helpers, which it bought in April 2021, to private equity firm Waud Capital Partners for an undisclosed sum.
In the report, Advocate Aurora said MobileHelp and Senior Helpers "no longer fit the strategic priorities" of the health system.
Advocate Aurora's investment arm, Advocate Aurora Enterprises, bought MobileHelp and its sister company Clear Arch Health for about $290 million in April 2022.
Advocate Aurora and Atrium Health merged in late 2022 to form Charlotte, North Carolina-based Advocate Health, which reported a $2 billion surplus in 2023, its first full year post-merger.
