Fairpoint Group sells medical legal business for £1.2m
Professional service firm Fairpoint Group has sold its ancillary medico-legal business, PIX, for £1.2m to Premex Services, a provider of medico-legal services.
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PIX had provided medical records, reporting services and disbursement funding support to certain departments of the company’s legal services division, and the proceeds from the sale will be used to support Fairpoint’s working capital,
Following the sale, Fairpoint has entered into a three-year partnership with Premex for ongoing medical records and reporting services, which is expected to deliver operational efficiencies for the company.
At the end of last year, Pix’s unaudited gross assets came in at £1.6m and unaudited operating profit came to £100,000.
Shares in Fairpoint Group were down 5.9% to 14.82p at 0850 BST.