Subsequent Event

9 Months Ended

Sep. 30, 2019

15.	Subsequent Event:

On October 10, 2019, the Company entered into a securities purchase agreement with an affiliate of Frazier Healthcare Partners to divest of the Company’s management services organization, which operates as MedData. The transaction closed on October 31, 2019. Pursuant to the terms and conditions

of the agreement, at the closing of the t

ransaction, the Company receive

a cash payment of $250.0 million, subject certain net working capital and similar adjustments, as well as

contingent

economic

consideration in

an indirect holding

company of

the bu

yer

the

value of

which is

contingent on both short and long-term performance of MedData

and the maximum amount payable in respect of which is $50.0 million. Upon completion of a valuation to determine the final net proceeds, the Company could record an additional gain or loss on disposal.

The

Company anticipates certain cash tax benefits from the

transaction

in the coming quarters. The Company expects to use net proceeds from the transaction for debt repayment, share repurchases and strategic acquisitions.