Xerox Corporation to Revamp Healthcare IT Business, Records Related Impairment Charge

Xerox Corp, which has been shifting its focus to IT services will be highly selective in responding to new Medicaid Management Information System opportunities.

An American multinational document management corporation, Xerox Corporation, said it would discontinue sales of its integrated eligibility system, which provides call center and document imaging services.

The company plans to revamp its healthcare IT business and take an impairment charge of about $145 million in the second quarter, report sources. Xerox expects earnings from continuing operations of 9-11 cents per share, below its prior guidance of 17-19 cents per share.

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"Going forward, Xerox will focus on managing and completing the current Health Enterprise implementations, and will be highly selective in responding to new Medicaid Management Information System opportunities," the company said in a statement.

Xerox Corporation's healthcare business offers administrative and care management solutions to state Medicaid programs and government healthcare programs.

Source-Medindia

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