Aramark has entered into a definitive agreement to divest its Healthcare Technologies (HCT) business to Trimedx, a clinical asset management and clinical engineering service company, for $300m.
Acquired by Aramark in 2001, HCT business offers healthcare technology services across North America. It delivers clinical equipment management programmes for more than 500 hospital and healthcare facilities.
The business currently has more than 1,500 technicians, engineers and programme staff. Services provided by HCT include maintenance and refurbishment of high-end imaging equipment.
The deal is part of Aramark’s strategy to focus on core businesses of food, facilities and uniforms.
Aramark chairman, president and CEO Eric Foss said: “This transaction represents the latest step in our commitment to deliver sustainable shareholder value, while also increasing our financial flexibility.
“We will use the majority of proceeds to strengthen our balance sheet through debt reduction and will also repurchase $50m of shares after closing of the sale.”
Trimedx expects the acquisition to facilitate the offering of its technology-driven solutions to more healthcare provider customers.
The deal is expected to boost Trimedx’s clinical and financial results, as well as advance its device security and compliance.
Trimedx CEO Henry Hummel said: “We are excited to bring our technology and service model to a greater number of health care providers, delivering a comprehensive and differentiated clinical asset management program in an ever-changing environment.
“We look forward to Aramark HCT’s talented associates joining the Trimedx team to support our strategic operating model focused on partnering with healthcare providers to drive measurable and persistent value.”
Subject to customary closing conditions and regulatory approvals, the acquisition is scheduled to be completed in the fourth quarter of this year.